RSI picks International agricultural commodities (RJA)

The agriculture market has been on a tear, and RSI has followed suit and made the following pick:

• Buy 1111 shares ELEMENTS Rogers Intl Commodity Agri ETN (RJA); Stop = -$0.90 Target = +$2.70 Volatility = 4.43%

The chart aptly displays the big move up in ag products. Russia just stopped exporting wheat due to weather and fire problems in their country. RSI doesn’t read the news but it does read the price history and it likes the price action. I like its recent price recovery. One day doesn’t make a trend reversal, so maybe wait for the true picture.

Catch you later.