Orange Juice Technical Analysis | Orange Juice Trading: 2022-10-13 | IFCM Turkey
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Orange Juice Technical Analysis - Orange Juice Trading: 2022-10-13

Orange Juice Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 198

Buy Stop

Below 173

Stop Loss

Mary Wild
Mary Wild
Senior Analytical Expert
Articles2058
IndicatorSignal
RSI Neutral
MACD Buy
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 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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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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