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Orange Juice Technical Analysis - Orange Juice Trading: 2022-10-13
Orange Juice Technical Analysis Summary
Above 198
Buy Stop
Below 173
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Orange Juice Chart Analysis
Orange Juice Technical Analysis
On the daily time frame, ORANGE: D1 came out of the triangle and the bullish flag. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if ORANGE: D1 rises above the latest up fractal and the high since December 2016: 198. This level can be used as an entry point. The initial risk limit is possible below the lower border of the triangle, the last 2 lower fractals and the Parabolic signal: 173. After opening a pending order, we 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 trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (173) without activating the order (198), 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
In the US, the orange crop is expected to decline. Will ORANGE quotes go up?
The United States Department of Agriculture forecasts the 2022/2023 US orange harvest at 3.19 million tones. This is 8% less than in the 2021/2022 season. Florida is expected to experience a 32% crop decline and California a 17% increase. In Florida, orange trees were hit this year by the hurricane (Hurricane Ian). Harvest there may be the lowest since 1943. It turns out that the USDA is expecting a reduction in the production of oranges in the US for the 5th consecutive season. This is due to both a decrease in the area under orange trees (about a third in 10 years) and a decrease in yields. An additional positive for quotes may be a drought in Brazil.
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