AMEX:JO   IPATH BLOOMBERG COFFEE SUBINDEX TOTAL RETURN ETN
58 0 1
Monthly version of $JO. It looks like we are completing a pattern that has occurred before, just on a larger level. We are currently sitting on major support from the 2013 low, so it may put up a fight for a month or 2. However, I believe it will follow the multi-year trendline (in green) & complete this current pattern at the 123.6 extension (like the larger pattern did), where there happens to be confluence from other extensions as well.

Additionally, we also have a bearish Tenkan/Kijun cross after a failed flip. I see $JO being ~$15 before EOY. Accumulatio has also been dropping to new lows but RSI still has room to match the ATL. I will re-evaluate once we get to a new low for an opportunity to buy.

Love the symmetry here. Good Luck. This is all IMHO.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out