No more juice to squeeze

Selling Orange Juice is one of the ‘bigger’ actionable calls at the moment.

The chart below shows it on a MONTHLY basis, not my normal Weekly views.

Overbought, it’s miles above its 200 month average and trading at 2.5 standard deviations above its rolling monthly mean.

The ‘fat part of the trade’ has been had.

Only the 4th such occurrence over the past 20 years.

Put another way, I wouldn’t be a buyer here.

Who is buying?
Often it’s food companies either panicking or needing to buy and secure OJ for their bottled product.

February 14, 2023
by Rob Zdravevski

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: