(Click On Chart To Enlarge)
Short-term (10-Minute Chart), the UYG broke below a Bearish Wolfe Wave at 11:30 this morning. Since then, it's been stalled in a Bear Flag rally (pattern in yellow), chasing the bottom of the broken Wolfe Wave. The target line (#6), if the pattern completes, is down around $20. The pattern is negated if the UYG closes back above the top of the pattern, and above this morning's 21.63 high.
No comments:
Post a Comment