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tacosaurus
May 16, 2022 5:32 PM

UUP short term momentum slowing Short

Invesco DB USD Index Bullish Fund ETFArca

Description

higher price, lower RSI and lower MACD. looks pretty tired to me, looking for 27.5 by end of the week. Playing w/ may20 28 puts.
Comments
ismartinvesting
Yeah maybe looking at some sept 16th $29 and 28puts… might not touch $29 for a while again and hold those till Jan 2023.
CarlF2022
Might this also be a cup and handle on a weekly chart...waiting for breakout. Macro and global economics suggest the dollar is already stretched but then I saw a possible cup and handle with higher volume building up at possible breakout.
ismartinvesting
@CarlF2022, nice eye as well on that. Ima take a short position next day or so.
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