Grains ETN Poised for More Upside

The big picture of the iPath Dow Jones UBS Grains ETN (JJG) remains poised for upside continuation off of the October 4 low at 41.95. This is provided the price structure can hurdle and sustain above October resistance at 46.77/80, which should trigger follow through towards 49.00-50.00 thereafter.

At this juncture, only a decline that breaks the Nov 1 pullback low at 44.21 will compromise the timing of the next powerful up-leg.

  Matched “”
x
Take Advantage Of Our Free
7-Day Trial, $71st Month Offer!
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!