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Orange Juice Looks To Break 100

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Orange Juice Futures---Orange juice in the July contract settled sharply lower finishing down 425 points at 105.55 hitting a 7 year low and in my opinion looks to break the 100 level in the coming days ahead.

Juice prices are trading far below their 20 and 100 day moving average as the trend is bearish as fundamentally & technically speaking I see no reason to own orange juice as weak demand and large supplies should continue to weigh on prices. If the 100 level is broken prices could drop down to the 90 area as the trend is strong to the downside and if you are short a futures contract stay short in my opinion.

The soft commodities at the present time remain bearish as the agricultural markets across the board are having a very difficult time rallying due to the fact that there is no agreement between the United States and China on trade.

If you are short a futures contract I would place the stop loss at the 2 week high standing at 114.35 as an exit strategy, however the chart structure will improve later this week therefor the monetary risk will also be reduced.




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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