The best part about being an analyst is the new friends that I make.
One of whom is Marty.
Marty and I talk often.
Most often about Canola.
Lately, there has been a focus on interest rates.
And we always discuss market psychology.
It makes for an interesting conversation.
Marty made a great trade shorting March Canola a few weeks ago at 671.
At the time, I suggested the 630ish level could act as support.
It did, but for a day before moving to the 610 level, which we discussed a few months ago.
At the time, it seemed farfetched that Canola could drop that low, but drop it did.
We got the bounce, and the 630ish level has been acting as resistance.
I find it fascinating how price levels can be significant on the way up and the way down.
Keep reading with a 7-day free trial
Subscribe to Klarenbach Grain Report to keep reading this post and get 7 days of free access to the full post archives.