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 March Orange Juice Futures (OJ.H13.E).
I hope you are having a GREAT week !
Orange Juice made a big move up off the last low, which put in a weekly and monthly green MarketClub Trade Triangle.
Orange Juice has made a sharp move lower off the high, and the move lower put in red weekly MarketClub Trade Triangle.
Orange Juice may be putting in a higher test of the last low right now, which would be bullish.
Higher lows are bullish because that means the buyers are gaining control.
If Orange Juice trades higher from here and puts in a green weekly MarketClub Trade Triangle, odds would be with a new bull swing higher.
So this is definitely a Chart to Watch right now !
Thanks,
Jim Robinson
Profit Trading.com
