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Orange Juice futures - Hurricane Michael

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Oldie but Goldie, hurricane / storm Michael now looks set to hit Florida with strength. Futures have been on a downtrend of late.

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Reference for those out the loop: 

 

 

 

Edited by Ludwik Chodzko-Zajko IG
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@Ludwik Chodzko-Zajko IG, the US news channels referred Hurricane Michael as 'Monstrous'. I will be keeping an eye on the price action for Orange Juice in case there is a short term trading opportunity here. At the moment there is no reason to enter the trade as there is a clear downward trend bias. Now should this change then a possible long position could be initiated.

Right now Orange Juice is trading below its 20, 50 and 100 day moving averages. I need this to change to at the very least begin trading above its 20 day moving average. 

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If one looks at today's price action for Orange Juice then it went up 58.1 points and 0.41%. I remember trading Orange Juice prior to the Hurricane Irma as the trend had already started well before the Irma hit Florida.

This is different so far!

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Again at the time of writing Orange Juice is down 35.3 points and down by 0.25%.

Bearing in mind this was one of the worst hurricanes to hit Florida then the price action is quite interesting. The clue was the lack of any trend reversal or build up from the news weeks ago on this hurricane. It kind of indicated that the price would not behave the same as prior to Hurricane Irma hitting Florida. 

What are your thoughts on this @Ludwik Chodzko-Zajko IG?

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Missed all the citrus producing areas (just), from my very basic research looks like they're all concentrated in the "pan" rather than the "handle". 

Hurricane season still has 6 weeks to go so one to watch (same applies to sugar, RBOB and WTI - refineries in Louisiana / Texas).

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