Posted by freakydude on 14th of Jul 2015 at 04:13 pm
Since April JO has made five attempts to break back through the
50DMA. It's been a tough nut to crack. Now it's trying for the
sixth time. Is this yet another Sisyphean task for poor JO? Lower
highs have generally been the rule lately, though not always lower
lows.
The 5 year chart shows its old glory days (and also its
potential maybe, as a longterm play??)
I do like how the commodity itself has the double bottom, better
look than the ETF, need a symmetry break on the bounce to confirm
of course and ultimately break over those MA's and get some
distance above them to start pulling them up, then buy the pullback
back to them.
Posted by freakydude on 14th of Jul 2015 at 04:37 pm
Looking at a 5 year gold chart and its steady decline -- not the
same as JO's, but kind of a cousin -- makes me think JO will have
to do a lot better before one can believe in it again. Some real
basing needed, I would think.
However, weather can become a quick factor with coffee. Not the
same with gold.
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JO - Is the sixth time the charm?
Posted by freakydude on 14th of Jul 2015 at 04:13 pm
Since April JO has made five attempts to break back through the 50DMA. It's been a tough nut to crack. Now it's trying for the sixth time. Is this yet another Sisyphean task for poor JO? Lower highs have generally been the rule lately, though not always lower lows.
The 5 year chart shows its old glory days (and also its potential maybe, as a longterm play??)
Comments?
I do like how the
Posted by matt on 14th of Jul 2015 at 06:35 pm
I do like how the commodity itself has the double bottom, better look than the ETF, need a symmetry break on the bounce to confirm of course and ultimately break over those MA's and get some distance above them to start pulling them up, then buy the pullback back to them.
On second thought
Posted by freakydude on 14th of Jul 2015 at 04:37 pm
Looking at a 5 year gold chart and its steady decline -- not the same as JO's, but kind of a cousin -- makes me think JO will have to do a lot better before one can believe in it again. Some real basing needed, I would think.
However, weather can become a quick factor with coffee. Not the same with gold.