Orange Juice Prices Near 8 Week High-Has Orange Juice Bottomed ?
Orange Juice Futures--- Orange juice futures today settled 280 points higher to close in the November contract at 126.75 right at fresh 8 week highs as traders are looking at many of the agricultural commodities wondering if a low has been placed in the last couple weeks especially in the soft commodities with cotton, coffee, orange juice, and sugar all rallying significantly from contract lows just two weeks ago. There is major support in orange juice futures for the November contract at 110 – 105 which is the contract low and I do believe in my opinion that the lows have been formed in in the orange juice market at this point and I do think prices are headed higher especially with hurricane season right upon us. Orange juice futures have plummeted in recent months coming from prices at nearly 200 all the way down to about 100 just a couple weeks ago before bottoming out now looking at turning the trend to the upside and if you're looking to get into the orange juice market the options and the volatility at this point are relatively low so take a look at some call premiums or look at trading the futures market remembering always to use a stop loss in case you are wrong on any given trade.
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