Coffee may a joy to drink in the morning, yet being long it the past 6-months, has been a painful experience!
Since last November, Coffee ETF (JO) has lost over 25% of its value. Could this decline be presenting an opportunity? Possibly. Check out the chart of JO below
CLICK ON CHART TO ENLARGE
The large decline in JO over the past 6 months has it testing 2016 lows, where it finds itself near the apex of a bullish falling wedge at (1).
As this support test is taking place, Coffee traders have a established a crowded trade, where in the past, Coffee was closer to a low than a high.
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