UUP Option Order Flow Sentiment is Very Bullish
$UUP possible rebound from 23.96, Gann Support 0-Degree
Dollar in oversold region in Weekly Charts (RSI @27) and near long term trendline support. Going Long for 4-5% bounce.
Target the bottom of the horizontal channel between $24.25-24.50
Sure looking like dollar weakness is still in the cards. Still a positive scenario for commodities in general.
Bear Signal at 25.61 intact. Breaking lower. Stop lowered to 25.50. Poised for further losses as studies and sentiment continue to weaken. Any break above 25.44 to remain limited.
good luck www.tradingview.com
Dollar should be catching traction soon. So far this move lower is good for multinational companies. Also good for Travel and the consumers buying power.
UUP I think UUP US dollar is due to go up a bit here.
UUP.... I am going to trade this pattern.....