September orange juice futures (OJU25) present a buying opportunity on more price strength.
See on the daily bar chart for September frozen concentrated orange juice (FCOJ) futures that prices have rebounded smartly after challenging major, long-term technical support at the $2.0000 area. Three sessions in a row of good price gains have given the bulls upside momentum. It’s my bias that the FCOJ market has put in at least a near-term price bottom and that prices will trend sideways to higher in the coming weeks.
