$$CanolaMPU – Strong 2 day performance since Friday’s StatsCan and resting now at 530, two dollars above the pennant formation and so likely a breakout.
Should see Jan top of 533 challenged and taken out and then my long term target of 538 attacked. Be nimble as any of these points can become a top if the Outsides top out or Beans fails to take out the same Pre-USDA high.
If 538 is taken out, 550 is immediately in play and a chance then at $12.00 Old Crop or $11.35 New Crop and they really must be sold.
Targets out tomorrow. Currently, my plan is to move to 80% sold at $538 futures or roughly $11.80.