Re: UUP - Analysis
Thanks, Stuffit.
As indicated, UUP is getting ready to unwind. Positive divergences (e.g.: RSI, CCI and ADX's positive DI), early institutional reversal (e.g.: ChiOsc crossing over its 21-EMA) and pincher completion (i.e.: PPO signal line crossing over after rounding off the pincher formation) are discreetly signaling a high-probability and imminent reversal event.
Of late, the volume has picked up as well, adding further credence to the above technical observations that a new breed of buyers is brewing.
- Dalcindo
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Message in reply to:
Nice chart 'dalcindo', I have been playing UUP options for awhile now mainly with puts...I did pickup some cheap Dec $23 Calls, just in case there is a move upward before then...