Looks like a pretty clean wedge to me. Plus, I’ve been saying for a while now that I think commodities will outperform equities in 2018 & quite likely beyond. Maybe so, maybe not but corn & wheat have been rallying, NIB (cocoa ETN) has rocketed 65% in just over 4 months, oil has been very strong, etc. & so far, commodities as a whole are outperforming the stock market by a wide margin YTD.

I could be wrong on this one but I’ve learned that you just have to take the best looking setups as you never know which ones will be the big winners & which ones won’t pan out. That’s what stops are for & as of now, JJOFF, as well as the daily chart of /KC (coffee futures) below, both look like bullish charts in a bullish sector (agricultural commodities) with bullish momentum in the majority of ag commodities.

Man, the share price is great for my account size. Maybe can look for an opportunity tomorrow should it present itself. I’m a little worried all the negative sentiment kind of raining on the parade mid-week already.