As the stock market continues to bounce around awaiting NVDA earnings tonight, I figured I’d pass this completely non-related (to the stock market) trade idea for those interested. /OJ (orange juice futures) looks primed for a 13% counter-trend bounce with a buy signal to come on a solid break above this 60-minute bullish falling wedge pattern (also the 310ish resistance level). My price targets (I typically set my sell limit orders slightly below the targets, which are set at the resistance levels where a reaction is likely) are 326.35 & 352.65 (my final & preferred swing target).
OJ 60m Feb 26th
To the best of my knowledge, there aren’t any ETFs or ETNs that track OJ prices, so this one is only for futures traders.