Coffee has made an impulsive breakout above the small bullish falling wedge pattern that was highlighted here in Wednesday’s video, sparking the 4%+ rally in the JO (coffee ETN) official long trade today while taking /KC (coffee futures) up to the 1.0165 target/resistance level. Updated 60-minute chart of /KC below.

KC 60m July 17th

KC 60m July 17th

Likewise, JO is rallying over 4% today following the breakout above the small bullish falling wedge that comes on the heels of the breakout above the much larger bullish falling wedge pattern on the daily chart.

JO daily July 17th

JO daily July 17th