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Orange Juice Prices Stuck In The Mud


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Orange Juice Futures---Orange juice futures in the September contract is currently trading higher by 45 points at 99.25 as this market has been stuck in the mud over the last 9 weeks despite the fact that prices are near a 3 month low.

I have been recommending a bearish position from the 98.50 level and if you took that trade continue to place the stop loss above the 2 week high which stands at 103.80 as an exit strategy as the chart structure is outstanding at the present time due to the incredibly low volatility.

Juice prices are still trading under their 20 and 100 day moving average as the trend remains to the downside, however for the bearish momentum to continue we're going to have to break the August 5th low of 95.25 in my opinion.

Fundamentally speaking weak demand and ideal growing conditions in the State of Florida and the country of Brazil continue to hamper prices, but we need some fresh fundamental news to pick up volatility to the downside. I will stay short and continue to place the proper stop loss as I still think prices will test the contract low which was hit on May 6th at 94.40 possibly in this week's trade.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

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There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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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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