Member @jameske inquired about JO (Coffee ETF) in the trading room today. It appears that JO could run up to the 23.30 area following today’s breakout above this 60-minute falling wedge pattern, with positive divergences confirming the bullish nature of the wedge.

As the rally following today’s breakout was quite impulsive, with JO posting a gain of 3.62% on the day, this is only an unofficial trade idea at this time as I’d prefer to see a more objective entry, such as a pullback to the 21.10 area or possibly a backtest of the wedge, before adding JO as an official trade idea. Daily & 60-minute charts below: