COFFEE and JO Coffee ETN Weekly Charts; Oversold; Falling Wedge; Positive Divergence; Lower Band Violation; Price Extended

The chart shows coffee spilling onto the floor over the last couple years. Week after week of misery that not even a cafe latte with whipped cream and sprinkles could improve. Coffee is beaten like a rented mule. However, perhaps the black gold will make a comeback.

The coffee weekly chart displays oversold conditions, a falling wedge pattern, universal positive divergence across all indicators (green lines), a lower band violation and price is extended to the downside requiring a mean reversion higher. All these parameters are bullish.

Coffee is on the launch pad getting fueled-up with coffee and possie d. The middle band at 1.01 is in play for starters and also the upper band at 1.10. Keystone is not in coffee right now but will be trading coffee on the long side likely for the remainder of the year. JO, the coffee ETN, can be played on the long side going forward although it is thinly-traded. JJOFF is a coffee ETN very thinly-traded. So coffee can be traded long going forward and a retail investor may consider JO as a play. Coffee can be scaled-into say over the next couple months and holders will likely be happy as the year plays out.

Wealthy investors looking for places to park dough in these erratic, crazy and unpredictable markets, should consider coffee for the remainder of the year. Java will soothe your troubled trading soul. 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.