Canola Sell Signal Triggered

This week is busier than I thought, with several sell signals triggering.

From my December 21, 2021, Canola Update, where I wrote the following:

Canola today at 976.50, below 1003, triggering a sell signal.

The second close in a row below the 50 Day Moving Average triggered another sell signal.

While the short-term and medium-term timeframes are now in a downtrend, the price has NOT made a new closing swing low below 960, and the long-term trend is still intact.

A close below 960 is the next sell signal for me.

The grey rectangle represents another area of previous supply which could act as resistance.

You can track my Canola analysis here.