Coffee Is Heating Up And Breaking Out
Chris Kimble | May 28, 2021 01:07PM ET
Is coffee starting to heat up and percolate with other commodities? Looks like it!
This chart comes from reflecting iPath® Bloomberg Coffee Subindex Total Return(SM) ETN (NYSE:JO) looks to have formed a bullish ascending triangle of late at (1).
Two-thirds of the time markets break out of this pattern.
JO is experiencing a bullish breakout and now it is testing 2018 highs at (2).
If JO breaks above those highs, look for it to percolate much higher!
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