Is Coffee starting to heat up and percolate with other commodities? Looks like it!
This chart comes from Marketsmith.com reflecting that Coffee ETF JO, looks to have formed a bullish ascending triangle of late at (1).
Two-thirds of the time markets break out of this pattern.
Joe Friday Just The Fact Ma’am; 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!