JO Coffee ETF Weekly Chart Falling Wedge Oversold Positive Divergence

Coffee will likely remain the fave commodity for Keystone well into and perhaps through 2014.Every last bean has been crushed over the last couple years as price grinds lower. The weekly and daily charts show universal positive divergence across all indicators, an awesome combo. Price should launch. Overall, these prices may represent the long term low as price should base moving forward and then move sideways to sideways higher for the months ahead. JO and other long coffee plays are potential places to park cash in the event of a substantial equity selloff. Projection is sideways to sideways up for the weeks and months ahead. 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.

Note Added 3:45 PM:  JO pops +2.6% today off the positive divergence to the 20-day MA at 23.94, a critical test. Should be lots more upside in this one due to the possie d energy as time moves along. The gap up today may  allow for an entry back down at 23.40-23.70 in the days ahead if price does some backing and filling. The 50-day MA is 24.79 a logical near-term target.