Tuesday, March 1, 2016

[UGAZ] update

In the backlink I was looking for a reversal soon.

I can't say the model is playing out exactly this time.  For one thing, I had to move the rails a bit and renumber again.  For another thing, DGAZ squeezed out a higher high which was unexpected.  At the same time, DGAZ started higher and then had an intraday reversal downward which is oftentimes indicative of a stronger than normal change of trend.

Unless and until this falls back down into the falling wedge channel I have to say that the next move is up.  I think CLF is leading in that direction.  Buy the dip and uses stops.

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