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Watching Coffee's Subindex

Published 05/08/2013, 11:23 AM
Updated 07/09/2023, 06:31 AM
DJI
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UBSN
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TTEF
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JO is the Coffee ETF and the Dow Jones-UBS Coffee Subindex Total Return is a single-commodity subindex currently consisting of one coffee-futures contract, which basically tracks the price of coffee. JO looks to be testing resistance again at 30.80-31.05, it has failed three times at this level over the last two months and the more the resistance level is tested, the weaker it becomes. A break of this could be potentially bullish for the commodity. But the real resistance for this commodity is at 31.87. This is longer-term resistance and the downtrend. Things won’t get bullish for coffee unless it can get above this level. But first lets watch the 30.80 level.
iPath DJ-UBS Coffee Subindex Total Return ETN

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