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Technical Analysis
Technical Analysis #C-LHOG : 2021-09-13
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[QUOTE="IFC Markets, post: 213963, member: 18359"] [HEADING=1]Orange Juice Technical Analysis - Orange Juice Trading: 2022-10-13[/HEADING] [HEADING=2]Orange Juice Technical Analysis Summary[/HEADING] Above 198 Buy Stop Below 173 Stop Loss [TABLE] [TR] [TH]Indicator[/TH] [TH]Signal[/TH] [/TR] [TR] [TD]RSI[/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]MACD[/TD] [TD]Buy[/TD] [/TR] [TR] [TD]MA(200)[/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]Fractals[/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]Parabolic SAR[/TD] [TD]Buy[/TD] [/TR] [TR] [TD]Bollinger Bands[/TD] [TD]Neutral[/TD] [/TR] [/TABLE] [HEADING=2]Orange Juice Chart Analysis[/HEADING] [ATTACH type="full"]22807[/ATTACH] [HEADING=2]Orange Juice Technical Analysis[/HEADING] On the daily time frame, [B]ORANGE: D1[/B] 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 [B]ORANGE: D1[/B] 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. [HEADING=2]Fundamental Analysis of Commodities - Orange Juice[/HEADING] 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. [/QUOTE]
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