Orange Juice demand/supply cycle frequency appears to be 170 days. Close to 25 weeks or 6 months.
When the price falls down, they come in three big waves. But the price increase happens fast. It takes about 2 months to increase the price to the maximum level.
Price falling happens slowly, takes about 4 months.
The last bull run in March couldn't break the...
Orange juice is preparing for a breakout.
If this breakout is confirmed, then a doubling of the price in the next 3-4 years should not be surprising.
#FCOJ doubling orangejuice #OJ1! #Ojuice #orange
wkr from Hanover
The FCOJ-A futures contract is the world benchmark contract for the global frozen concentrated orange juice market.
Is it too late to buy Orange Juice ? I'll wait for the correction.
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Every 3-4 years since 2009, the price of orange juice has found a cyclical bottom. We are currently not only sitting on the cyclical low, but also resting on the channel range low/trend-line.
The daily chart has given a green light to get long, however, this is a monthly chart so the chop can easily last 6-12 months before lifting off (if it does)
Here we have the pullback to the former support, now resistance. It's a classic setup where I look to go short, maybe in the daily TF.
Watch out for shoot through the line...be patient!
Target is the Centerline.
As a speculator I look into the logic behind $JO supply and demand. At price levels it changes hand and the climate outlook.
Lastly the technical outlook and CFTC positioning.
United states imported %66 of it's JO demand from Brazil in 2017 and as citrus greening and grove renewal is continuing to cap Florida producers. Leaving the U.S heavily dependent on...