Looking To Buy Orange Juice

Looking To Buy Orange Juice
Looking To Buy Orange Juice

Orange Juice Futures–-Orange juice futures in the November contract is currently trading higher by 15 points at 116.10 in a relatively quiet Tuesday afternoon in New York as prices continually bounce off major support which stands around the 115 level.

At the current time I have no recommendation on this commodity as I’m keeping a close eye on a possible bullish position especially as hurricane season is upon us as that can wreak havoc on the orange trees in the State of Florida.

I think the downside is very limited as the chart structure is starting to improve on a daily basis as I will wait for a 4 week high before entering into a bullish position, but I do believe orange juice prices are experiencing a bottoming out pattern. At the current time prices are still trading below their 20 and 100 day moving average, but I do believe we’re squeezing blood out of a turnip so look to play this to the upside as the risk / reward will be in your favor soon.

TREND: LOWER

CHART STRUCTURE: IMPROVING

VOLATILITY: LOW

 

 

 

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

TWITTER—@seeryfutures

 Email: mseery@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.