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Canary Seed Price Moving Lower
Special Crops Technical Analysis
I mentioned my first Canary Seed Sell signal in the November 26 Canary Seed Analysis newsletter.
Here is an excerpt from that commentary.
A new low below 57 sets up a move down to the previous supply in the 33-34 range.
It could be a fast and furious drop.
A break below 57 signals producers to take partial or full profits.
The lower yellow trendline will be met somewhere north of 40.
The December 12 Canary Seed Sell Signal newsletter discussed how bad things happen below the 10 week moving average.
Moments ago, I was informed of the drop in price to $48/cwt or $0.48/lb.
Here is an updated price chart showing the price testing the 30- week Moving Average below the 10- and 20- week MAs.
While the longer-term trend is up, the short-term trend is down with no level of previous supply or support until $33/cwt or $0.33/lb.
Readers of this newsletter were provided advance notice of actionable sell signals at levels 19% higher than current prices.
The purpose of this newsletter is to provide advance notice of trend changes and support and resistance levels, allowing the reader to anticipate future price action.
Think Wayne Gretzky, skate to where the puck is going.
That is our mission
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