3 month bankers acceptance rate
The final settlement price is based on the average of the three-month Canadian bankers’ acceptance bid rates as quoted on CDOR page of Reuters’ Monitor Service on the last trading day at 10:15 a.m. (Montréal time), excluding the highest and lowest values. CDOR is based on 365 days. The market appears overbought, but may continue to become more overbought before reversing. Given that we closed at a 45 bar new high, the chance for further bullish momentum is greatly increased. Look for some price weakness before taking any bearish positions based on this indicator.