Commodities continue to run higher as inflation concerns are becoming an everyday reality for U.S. consumers.
Recently, I highlighted a key equities to commodities ratio and asked, is it “Time For Commodities To Out-Perform Equities?“.
Today, we turn our attention to an elevated agricultural commodity: coffee. And we look at rising coffee prices through the lens of “weekly” chart of the iPath Coffee ETF (JO).
As you can see, JO spent 3 years forming a rounded base before breaking out this year.
That breakout lead to another consolidation for Coffee (JO)… before breaking out yet again to new highs at (1).
Coffee is perking higher as the upside breakouts continue! Put it on your radar and stay tuned!
iPath Coffee ETF “weekly” Chart
Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up.
Twitter: @KimbleCharting
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
