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A DTN technical analysis says December oats broke above a four-month high, reaching $2.19 and then $2.18 3/4 on a weekly basis. The author argues long-term indicators show the major trend has turned up, with an initial target near $2.49 3/4.
The chart signals are technical and do not reflect a new supply or demand change. They suggest only modest upward pressure on oat prices in the near term.
dtnpf.comDarin NewsomOct 24, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
