The unofficial long swing trade on JO (coffee ETN) gapped above the 34.09 1st target/resistance level today & has effectively hit the 35.58ish target (always take profits just below the actual resistance level) where a reaction is likely. Next objective entries or add-on to an existing position to come on either a solid break above that level or a pullback to the 34ish support. Previous (Wednesday’s) and updated daily charts below.


Ditto for /KC (coffee futures) which has effectively hit the 1.12ish target (always take profits just shy of the actual resistance level in case the sellers step in early). Next objective long entry or add-on to an existing position to come on a solid break above 1.12 or a pullback to the 1.056ish support and/or uptrend line just below. While the odds for a pullback off the initial tags of these resistance levels (with a full tag still very possible with another thrust up soon) is likely, I have no desire to short /KC or JO here as I’ve traded coffee for many years & when it wants to run, it can really run, quite often defying overbought conditions & blowing right past resistance levels as if they aren’t even there. Previous (Tuesday’s) and updated 60-minute charts below.