We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Orange Juice (OJ.H13.E).
I hope you are having a GREAT week !
Orange Juice looks to be the big story right now in the commodity markets.
There is a citrus greening bacteria that is causing the Oranges to rot and this year is the worst year for that since 1969 - 1970.
Orange Juice looks to have made the breakout of a Cup with Handle pattern and all 3 MarketClub Trade Triangles, daily, weekly, and monthly were green as the price broke out of the pattern.
That is great information to have because if you see the Cup with Handle and then see MarketClub's Trade Triangles lining up it will help give you confidence to take the trade.
So Orange Juice had a fundamental story, a classic chart pattern, and MarketClub's Trade Triangles coming together all at the same time.
What more could we want ?
So this is a Chart to Watch, as big things look to be in store for Orange Juice.