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Since finding a bottom on December 14th, the ELEMENTS Rogers International Commodity Agriculture ETN (RJA) has rallied back into resistance of its 20-day and 50-day moving averages. RJA could offer a potential short setup if it forms a reversal candle at the current level, or on a breakdown below the two day low of $8.64. We are monitoring this ETF carefully for a possible short entry.

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