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Orange Juice Technical Analysis - Orange Juice Trading: 2020-10-20

Orange Juice Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 118

Buy Stop

Below 106

Stop Loss

Dmitry Lukashev
Senior Analytical Expert
Articles 1922
RSI Neutral
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

Orange Juice Chart Analysis

Orange Juice Chart Analysis

Orange Juice Technical Analysis

On the daily timeframe, Orange: D1 exceeded the resistance line of the short-term downtrend for the 2nd time. It is trying to continue the upward trend, but is currently traded in a narrow range. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if Orange rises above the 200-day moving average line and the last upper fractal: 118. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the last 3 lower fractals and the lower Bollinger line: 106. After opening a pending order, we can move the stop loss following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop loss (106) without activating the order (118), it is recommended to delete the order: market sustains some internal changes that are not taken into account.

Fundamental Analysis of Commodities - Orange Juice

There is a risk of significant cooling and frost in Florida, which may damage orange trees. Will the Orange prices continue their growth?

Florida and California are the main citrus growing regions in the United States. At the same time, Florida produces almost 70% of frozen orange juice. The risk of the 2nd wave of coronavirus outbreak in the world may increase the demand gor orange juice. Many consumers believe that orange juice boosts immunity. Orange quotes soared 37% from late February to early March this year, during the 1st wave of the coronavirus pandemic.

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