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December 21st, 2017: JJG and JO Weekly Charts Update

Posted by pugsma on December 21, 2017

1:40 pm EST:   Soft commodities like US Grains (JJG ETF) and Coffee (JO ETF) have been in a sustained down-trend for nearly 6 years.   Both ETF’s on a weekly chart show a potential bullish falling wedge pattern with a building positive divergence on the MACD.   The typical bullish falling wedge 78% Fibonacci retracement upside targets are at 46.17 (JJG) and 36.51 (JO).   This represents a potential 91% return in JJG and a 149% return in JO over the next 1 to 2 years.

JJG Weekly Chart:

JJG Technical Analysis

JO Weekly Chart:

JO Technical Analysis

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