May FCOJ futures a selling opportunity on more price weakness.
See on the daily bar chart for May frozen concentrated orange juice (FCOJ) that prices this week have stumbled and have negated a price uptrend. The bears have quickly gained downside momentum. A move below chart support at Tuesday’s low of $1.4670 would become a selling opportunity. The downside price objective would be $1.3500 or below. Technical resistance, for which to place a protective buy stop just above is located at $1.5125.
