Mixed Technicals Point to Consolidation for Canola Prices

Vegetable oil prices are consolidating moving lower after running up as the lack of supplies in Asian are driving price action.  Canola prices ran into resistance near the Bollinger band high, which is 2-standard deviations above the 20-week moving average. Support on weekly Canola is now seen near the 20-week moving average at 38.  The Bollinger bands are now contracting after widening to the…