[INTRA-DAY ACTION]
Very boring day here, I was watching CME for some action - and entered, closed the trade soon after for a small loss and good thing too because it went into meltdown and has dropped $9 since I sold out.
The only thing decent on my monitor was UAUA, with a textbook rally off the tri-factor of the 200MA, horizontal support and trendline support. Here's a chart that also shows the current bull-flag formation. This move was mainly based on the oil price slumping, and because of that I'm not convinced of it's technical credibility but we'll see what happens.
This chart is UAUA, for some reason I actually wrote on GM.
The numbers I'm looking out for on a bull flag failure are $14.20 on prior resistance support. If the flag holds and there is a nice breakout over $15 then my target is $16.10.
The only thing decent on my monitor was UAUA, with a textbook rally off the tri-factor of the 200MA, horizontal support and trendline support. Here's a chart that also shows the current bull-flag formation. This move was mainly based on the oil price slumping, and because of that I'm not convinced of it's technical credibility but we'll see what happens.
This chart is UAUA, for some reason I actually wrote on GM.
The numbers I'm looking out for on a bull flag failure are $14.20 on prior resistance support. If the flag holds and there is a nice breakout over $15 then my target is $16.10.
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