Keeping A Close Eye On Orange Juice

Keeping A Close Eye On Orange Juice
Keeping A Close Eye On Orange Juice

Orange Juice Futures—Orange juice futures in the January contract is currently trading at 99.45 up 130 points this Monday afternoon as are still stuck in a tight 4 week consolidation.

I will be recommending a bullish position if prices break the 101.65 level while then placing the stop loss under the contract low which was hit on October 30th at 96.10 as the risk would be around $850 per contract plus slippage and commission.

We are starting to enter the very volatile winter season for orange juice prices as a possible frost could hit the State of Florida sending prices sharply higher as that situation has occurred in the past as I do think we are in a bottoming-out pattern as the downside is limited.

Volatility at the current time remains low as I don’t think that situation is going to last much longer as the weather conditions at the current time remain ideal, but it is a long growing season so look to play this to the upside.

TREND: MIXED

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

 

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