JJG (Grains ETN) offers an objective long entry following the recent breakout & backtest of the downtrend line + divergent low. The price targets at this time are T1 at 26.11 & T2 at 26.77 with the potential for additional price targets to be added, depending on how the charts develop going forward. The suggested stop is any move below 24.67 with a suggested beta-adjusted position size of 1.2 (20% above a typical position size).
JJG daily Feb 6th
JJG is comprised of three grains; 44.67% Corn, 34.73% Soybeans & 20.59% Wheat. Those current in the CORN (corn ETN) active long trade should factor in the ~35% weighting of corn in JJG regarding their position size/total exposure to corn if considering this trade.