Monday, February 15, 2016

JJG Grains ETN Weekly Chart

Grains are beaten into flour. JJG drops from over 52 to 30, -23%, over the last 20 months. The weekly chart is set up very attractively for a speculative long play. The indicators display universal positive divergence as price prints new lows. In the very near term, however, over the last 6 weeks, the indicators are positively sloped but price has not come down for a matching or lower low so possie d does not officially exist over the last 6 weeks. If price comes down to the green circle and the indicators continue to slope positively it is looking very good for upside ahead.

The standard deviation lines have squeezed in tight (pink arrows) s a big move is about to occur. The chart says it will be up, however, you never know. Keystone is not currently in JJG but will likely buy some this week opening a new long position. Coffee, JO, is also an attractive long play. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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