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:
JO Weekly Chart:
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