Bespoke's Commodity Snapshot: OJ Spikes
Hickey and Walters (Bespoke) submit:
Below we highlight our trading range charts for ten major commodities. For each chart, the green zone represents between two standard deviations above and below the commodity's 50-day moving average. Moves above or below the green zone are considered extremely overbought or oversold. As shown in the first chart, orange juice has spiked above its trading range in recent days as Florida freezes. OJ has been in a strong uptrend since the middle of 2009, so traders seem to have expected the cold, cold winter that the US has seen so far.Complete Story »
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