JO ETN bouncing breaking out of wedge right on support
Updated
JO is breaking out of small bullish falling wedge. It was objective to enter the trade as it was falling onto pretty good support at 35.25ish. Looking for follow though green candle tomorrow. $38.80 would be next stop and hopefully to take out top of trading range at $40.70. As you see, JO trades to the technicals pretty well. So, I hope it will be a good trade.
Comment
Hitting first target this morning and has been a reaction. Up so far despite of down day on all major indexes.
That's the power of being truly diversified.
T.
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