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Klarenbach Research
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Sample Report
Small Green Lentils
(Emailed to subscribers on August 8, 2022)
The market has been quiet since triggering my last Small Green Lentil Sell Signal was 49 cents per
pound in June.
Since then, it has been relatively quiet with little to report on.
or
Nothing written, expressed, or implied here should be looked at as investment advice or an
admonition to buy, sell, or trade any security or financial instrument. As always, do your own diligence.
The Klarenbach Special Crop Report provides an independent technical analysis of the
Canadian Special Crops markets, including peas, lentils, chickpeas, and canary seed.
Newsletters are emailed on an as-needed basis as the price approaches levels requiring
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Created October 21, 2022; Last Updated January 6, 2023
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The long-term chart above provides a relative perspective.
Combining has begun, and new crop prices are adjusting to the current market.
The dashed lines represent the 50% and 61.8% retracement levels from the 2018 low to the 2021 high.
I will be watching these levels of interest for buyers to step in to support the price. Will this happen? Time will tell. The short-term moving averages are in decline, highlighting the intermediate-term downtrend. The 50 Week MA is still rising; however, it will begin to flatten out and begin to roll over in the next month.The downtrend suggests the price will test the previous resistance in the 26-28 cents per pound range.
Resistance often acts as support.
The Logarithmic chart above has a trendline in the high 30s, which is in confluence with the 50%
Retracement level.
SUMMARY • Price is in an intermediate-term downtrend. The price is likely to continue in the direction of the trend. • I have levels of interest at 37.50 and 32.50, where I will watch for buyers to step in to support the price. • Possible trendline support near 37.•
Don’t dismiss price testing the previous resistance in the 26-28 range.
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