Orange Juice Technical Analysis – Orange Juice Trading: 2021-12-20

 Orange Juice Technical Analysis – Orange Juice Trading: 2021-12-20

Orange Juice Technical Analysis – Orange Juice Trading: 2021-12-20.

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Orange Juice Technical Analysis Summary

 Buy Stop: Above 133

Stop Loss: Below 119

IndicatorSignal
RSINeutral
MACDSell
MA(200)Neutral
Bollinger BandsNeutral
Parabolic SARBuy
FractalsBuy

 

Orange Juice Chart Analysis

Orange Juice Technical Analysis

On the daily timeframe ORANGE: D1 approached the resistance line of the triangle. It must be broken upward before opening a position. We do not exclude a bullish movement if ORANGE rises above the last 2 upper fractals: 133. This level can be used as an entry point. The initial risk limitation is possible below the lower Bollinger line, the Parabolic signal and the last 2 lower fractals: 119. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (119) without activating the order (133), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Commodities – Orange Juice

The US Department of Agriculture (USDA) once again lowered its forecast for the US orange harvest. Will the ORANGE quotes grow?

In December, the USDA again lowered its forecast for the orange harvest for the 2021/2022 growing season by 1.3% to 3.83 million tons from its October review. Compared to the harvest in the previous season 2020/2021, the decrease may be 13.3%. The main negative factor can be orange tree disease. Earlier, the USDA reported a 15.6% decrease in frozen juice concentrate stocks in October 2021 compared to the same month in 2020.

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