FCOJ: Frozen Concentrated Orange Juice is Bullish
@Elliottwave_Forecast:
FCOJ: Frozen Concentrated Orange Juice is BullishOctober 2, 2022ByEWF Helgi In the previous articles fromMarchandNovember2021, we have discussed the price action and the outlook for the Frozen Concentrated Orange Juice. As it has been expected, the soft commodities have advanced. In particular, we saw commodities like coffee, cocoa, cotton and sugar extending higher. Hereby, orange juice futures OJ #F have rallied as well. Now, we see a higher high in Weekly view confirming our bullish view. Short-term pullbacks should and will happen providing an opportunity both for investors and traders. Orange Juice Monthly Elliott Wave Analysis 10.02.2022 The monthly chart below shows the FCOJ front contract OJ #F at NYBOT (e-Signal ticker: JO). From the important low in May 2004, the p