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Saturday, December 10, 2016 7:13:32 AM
UJ Weekly Chart with Ichimoku Cloud
I remember seeing this a while back and though I'd throw it out there since several of us are watching UJ. I don't use the cloud much anymore but I still glance at it from time to time.
Basically, the last big sell off on UJ caused the cloud to flip over to bearish and thicken out...that provides a really big resistance level to get through and the chances of UJ breaking through this level, combined with the 61.8 retrace, are slim to none.
I remember seeing this a while back and though I'd throw it out there since several of us are watching UJ. I don't use the cloud much anymore but I still glance at it from time to time.
Basically, the last big sell off on UJ caused the cloud to flip over to bearish and thicken out...that provides a really big resistance level to get through and the chances of UJ breaking through this level, combined with the 61.8 retrace, are slim to none.
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