The Feed Barley prices are generating a lot of interest from farmers.
Both farmers and feedlot owners wonder how much higher these prices will go.
Readers will remember my Sept 2 analysis below, where I analyzed the Southern Alberta and Saskatchewan price charts.
I identified possible support in the Southern Alberta price and was Bullish on the Saskatchewan price.
You can read the analysis here:
I had not identified any Take-Profit Price Targets, and the chart told me to stay long with Saskatchewan Feed Barley.
Staying long and not making sales has been a great strategy adding $80 per tonne to the price of the reader’s product.
Let us get take a new look at the charts.
I have drawn a grey box ranging between 423 and 459.
423 is the level of last February’s Sell Signal, triggering in May.
459 marks the 2022 high.
This range could provide resistance.
An effective strategy is to Buy on Support and Sell into resistance.
A logical Take-Profit Price Target is approaching the range between 423 and 459.
Approaching in the keyword.
A good practice is to front-run your sale orders to ensure they get filled.
The grey box is drawn between the April lows of 349 and the higher near 400.
This range could provide resistance.
An effective strategy is to Buy on Support and Sell into resistance.
A logical Take-Profit Price Target is approaching the range between 349 and 400.
Approaching in the keyword.
A good practice is to front-run your sale orders to ensure they get filled.