Canola Prices Drop, but Find Support as Momentum is Mixed

Canola oil prices moved lower after running into resistance near the Bollinger band highs which are 2-standard deviations above the 20-week moving average at 40.75.  The next level of target support on canola is seen near the 20-week moving average at 38.  Despite the dip in prices, the Bollinger bands are diverging from one another which reflects accelerating historical volatility.  While daily…