Nov-23 FCOJ set yet another record Sep. 27 at 355.10 cents, straddling the upper Bollinger Band and breaking prior retracement resistance below 345.80, the same level as the settle after Sep. 28’s down session. RSI is neutral to bearish, MACD is neutral to bullish, and the stochastic saw a bearish crossover.
Jan-24 FCOJ set a record Sep. 27 at 339.25 cents but retraced Sep. 28 to settle at 331.70. RSI is neutral to bearish, MACD is neutral, and the stochastic showed a bearish crossover.
Bullish factors cited include storm damage in Florida and reports of poor yields from Brazil and Mexico.
The full version of this commentary appeared on our IQ platform Sep. 28, 2023. Further information, statistics, and pricing for the FCOJ market are available to IQ subscribers. Learn more about becoming a subscriber.
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