7.6 C
New York
Thursday, March 28, 2024

Commodity ETF up over 6% in 4 days….will it stay as hot as the weather? Be open to harvesting gains!

Courtesy of Chris Kimble.

 On 6/27 the Power of the Pattern reflected that Commodity ETF JJA, could match the weather and become a hot performer on a resistance line breakout. (see post here)

Since pushing above this line, JJA has gained more than 6% in 4 days

 CLICK ON CHART TO ENLARGE

Below is an update on JJA, reflecting a near vertical line as it broke above resistance at (1) below.

 

CLICK ON CHART TO ENLARGE

With bullish sentiment in the grain complex at VERY HIGH LEVELS, protecting gains in this area becomes very important.  Bringing stops up to harvest gains as it approaches line (2) looks to be a good idea! 

 

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