Orange Juice continuously books gains

Source: Dukascopy Bank SA


The price for orange juice has continued to surge since early 2022. The surge occurred in a massive channel up pattern until mid-September. in September, the pattern was broken to the upside. Namely, the surge gained more momentum. However, the price remains in a smaller scale pattern that has guided it up since the start of July.

In general, the surge could continue, as global inflation remains high. The price could be slowed down by the upper trend line of the channel up pattern in the 385.00/400.00 range or round price levels. It has been spotted that round price levels are acting as support and resistance.

However, in the case of a decline, take into account round prices and the combination of the lower trend line of the channel and the 341.60/348.30 range.
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