Orange Juice Futures—Orange juice futures in the January contract is currently trading lower by 20 points at 115.50 breaking a 4 day winning streak in a relatively quiet trade looking to break out to the upside in my opinion in the coming days ahead.
I will be recommending a possible bullish position if prices break the October 13th high of 118.75 while then placing the stop loss under the spike bottom and contract low which was touched on October 21st at 107.35 as the risk is around $1,700 per contract plus slippage & commission.
Juice prices are now trading above their 20-day but still below their 100 day moving average as the agricultural sector is starting to look strong as I’m bullish most commodity and equities at this time and I think we will finish 2020 on a very strong note.
Orange juice is starting to enter the extremely volatile winter season where a frost can crush the orange juice crop in the State of Florida as the volatility is extremely low at the present time and that situation is not going to last much longer so play this to the upside as the downside is very limited as I will not take a short position.
CHART STRUCTURE: EXCELLENT
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
If you’re looking to open a Trading Account click on this link www.admis.com
There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.