Sep-23 FCOJ has continued its accelerated rally, settling Jul. 27 at 317.10 cents per ps, the first close below its upper Bollinger Band since Jul. 17. Jul. 27’s close was a contract high and up 22 percent from a month prior. RSI is strongly bearish, MACD bullish, and the stochastic neutral. Both RSI and the stochastic are in overbought territory.

Nov-23 OJ rallied over the last ten sessions, settling Jul. 27 at a contract high of 302.55 cents. RSI is bearish; MACD is bullish. The stochastic is mostly neutral but firmly in overbought territory.

The dollar index rebounded off its recent lows, reaching a two-week high midweek. Brazil’s real lost further ground, reaching 14-month lows vs. the dollar.

The full version of this commentary appeared on our IQ platform Jul. 27, 2023. Further information, statistics, and pricing for the FCOJ market are available to IQ subscribers. Learn more about becoming a subscriber.


Source: 123rf.com
Posted by: Information Services
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