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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​​​WTI stalls, Chicago wheat slides while orange juice trades in record highs​​​

​​Outlook on light crude oil, Chicago wheat and orange juice as US dollar continues to slide.

Source: Bloomberg

​​​WTI grapples with resistance

​ ​WTI continues to trade around the 200-day simple moving average (SMA) at $77.97 per barrel, having risen by over 6% from last week’s low ahead of this weekend’s OPEC+ meeting at which additional output cuts are on the table. ​A rise above the 200-day SMA, tentative October-to-November downtrend line and Monday’s high at $77.97 to $78.45 has the mid-November high at $79.66 in its sights ahead of the early October low at $81.21. ​Potential slips may find support around the $74.92 early November low. While remaining above it, upside pressure is expected to dominate.

Source: ProRealTime

​Chicago Wheat prices drop to one-month low ​

Chicago Wheat prices continue to come off their early November $617 high and now trade in one-month lows whilst slipping towards the 12 October low at $563. Further down lies the late September trough at $552. ​Potential resistance above the $575 late October low comes in along the breached September-to-November uptrend line, now because of inverse polarity a resistance line, and the 55-day simple moving average (SMA) at $589.90 to $589.92.

Source: ProRealTime

​Orange juice futures trade in new record highs

​Front month orange juice futures have risen for six straight days. They are now trading above their previous all-time high at 416.34 as shifting weather patterns and the spread of citrus greening, a bacterial disease transmitted by the Asian citrus psyllid insect, detrimentally affects top producers Florida, Brazil and Mexico. ​A resistance line going back to February at 428.60 represents the next technical upside target for the front month futures contract. ​Minor support comes in at Monday’s 409.88 low, ahead of the psychological 400.00 mark.

Source: ProRealTime

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