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 resistance and fell back to the weekly support level. I can't see a reason for the price breaking weekly support.
A sharp price drop to key levels always shows a strong pullback. If the next bull run can break the resistance, the price could settle around $119 (or shoot past it to the previous high $130)
Can't think of a better time to buy Orange Juice. But wait until weekly support is confirmed by at least two consecutive days.
This is an idea only, not a financial advice.
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 resistance and fell back to the weekly support level. I can't see a reason for the price breaking weekly support.
A sharp price drop to key levels always shows a strong pullback. If the next bull run can break the resistance, the price could settle around $119 (or shoot past it to the previous high $130)
Can't think of a better time to buy Orange Juice. But wait until weekly support is confirmed by at least two consecutive days.
This is an idea only, not a financial advice.
Kommentera:
Long term support and trends show a higher chance for a large bull run.
Kommentera:
Orange Juice at an extremely bargain price. Still maintaining the ascending triangle boundaries. I would expect a retest at upper resistance and breakout soon (within weeks).