Orange Juice Chart Looks Bullish

Orange Juice Chart Looks Bullish
Orange Juice Chart Looks Bullish

Orange Juice Futures—Orange juice futures in the January contract is currently trading lower by 100 points at 117.00 breaking a 4 day losing streak as prices continue to hover near a 7 week high looking to break out to the upside soon in my opinion.

I have been talking about orange juice over the last several weeks as I will be recommending a bullish position if prices close above the October 13th high of 118.75 while then placing the stop loss under the spike bottom which was created on October 21st at 107.35 as the risk is around $1,700 per contract plus slippage and commission as I do believe a bottoming out pattern is developing.

Juice prices are trading above their 20 day moving average but still below the critical 100-day which stands at the 120.00 level as the volatility certainly is going to expand as we enter the highly volatile winter season where prices can experience tremendous price swings to the upside due to a possible frost in the State of Florida decimating the orange juice crop which has happened multiple times historically speaking. 





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