JO (coffee ETN) will trigger a long entry on any break above 33.00. As a potential bottoming play in coffee prices, JO will be added as both a Long Swing Trade as well as a Long-term (Trend) Trade idea.

JO daily May 24th

JO daily May 24th

The price targets, which are subject to revision based on where /KC coffee futures are trading if/when JO approaches those levels, are T1 at 34.65, T2 at 36.37, T3 at 39.04 & T4 at 41.30. The maximum suggested stop for this trade is any move below 30.80. The daily & 20-year weekly charts of coffee futures below lay out the intermediate & the potential longer-term bullish case for coffee prices. The suggested beta-adjusted positions size for this trade is 1.0.

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