Coffee Is Heating Up & Breaking Out, Says Joe Friday

(Click on image to enlarge)

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!

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