
Orange Juice Futures–-Orange juice futures in the May contract is trading slightly higher this Tuesday in New York up 25 points at 109.00 as I have been recommending a bullish position from around the 110 level as this trade has gone nowhere over the last week while also breaking major support at the 110 level.
Juice prices are still trading below their 20 & 100 day moving average as the trend remains negative as the volatility certainly has come to a crawl as seasonably speaking this is a very quiet time for juice. This was a counter trend recommendation as I believe the commodity markets have sold off too much over the last couple of months as it is time to be a bottom picker.
TREND: MIXED—LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: LOW
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Email: mseery@seeryfutures.com
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