Home > charting trendlines, Stock Market, technical analysis > Grains ready to bounce, or breaking down?

Grains ready to bounce, or breaking down?

JJG, the Barclays Grains ETN, has fallen hard of late.  It is at an interesting cross-roads of possible trendline supports.  Even more interesting is the bullish divergence in MoneyFlow (bottom of the three lower charts).  Moneyflow has trended up over the last six months, while the price as pushed lower over that period.  In the longer term, price often adjusts to reflect building bullishness or bearishness in MoneyFlow.

2013-04-08-JJG_CHARTS

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