Two months after UCO reached the top of its channel, it had moved down and slowly meandering its way back up again. But what if UCO is slowly ascending to the next level? Its drop on Aug 12 might have been a set up to try to gather enough energy to continue moving upward. However, it won't be without drops and sideways movements in between. The next level to reach is near 36.8 and after it moves above the fray, will it stay? Thats a good question. It seems each time it reaches a certain height it will fall back down, but the level maybe critical if it holds long enough to keep it. Either way, Ill grab profits at that level and buy on the dip!
Until then, we got a bit of a wait. We got until the week of the 24th of August to watch out for UCO to finally make the final push up or get crushed!