Coffee Prices Soar, As Breakout Sends Cup Of JO Higher!
Chris Kimble | Nov 19, 2021 01:53AM ET
Commodities continue to run higher as inflation concerns are becoming an everyday reality for US consumers.
Recently, I highlighted a key equities to commodities ratio and asked, is it “Time For Commodities To Out-Perform Equities?“.
Today, we turn our attention to an elevated agricultural commodity: coffee. And we look at rising coffee prices through the lens of “weekly” chart of the iPath Coffee ETF (NYSE:JO) from Marketsmith.com.
As you can see, JO spent 3 years forming a rounded base before breaking out this year.
That breakout lead to another consolidation for Coffee (JO)… before breaking out yet again to new highs at (1).
Coffee is perking higher as the upside breakouts continue! Put it on your radar and stay tuned!
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