Looking to sell UCAD at the 127 and 161 Daily fib levels. Blue and red arrows show the possibilities. UCAD is moving in correlation with US Oil to a retest of $58-$60/barrel. I see oil heading back down over the last 2 quarters of the year to retest the $51.64 level then continue to test $48.11 area.
There is also a possibility of Oil retesting the $66.58 area before the drop. Link below to US OIl Analysis.
There is also a possibility of Oil retesting the $66.58 area before the drop. Link below to US OIl Analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.