Orange Juice Plunges 750 Points !
Orange Juice Futures--- Orange juice futures this morning are plummeting once again with the rest of the commodity and stock markets around the world currently trading down 750 points to trade at 101.30 retesting contract lows which were just hit last week. Many of the soft commodities today are hitting fresh contract lows including cotton, sugar, and coffee all due to lack of demand because these are considered luxury items and when a recession is coming especially a hard-hit one in Europe prices head lower and that is exactly what is occurring at this point and time. I've stated in previous blogs I am extremely bearish all of the commodities and I believe many of the softs are going lower, however orange juice prices have plummeted quickly so I still advise to sit on the side-lines and just wait for some type of chart structure to develop. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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