Following the trade plan as outlined for the past couple of weeks the U/C is now at an interesting zone technically.
1. The Hourly 21-55 macd has again fallen below the ‘0’ line setting up dual time frames of momentum shown in blue circles.
2. The hourly stoch is OB as price is up into resistance shown by red line.
3. A H&S pattern has presented itself as price is now at the neck line resistance.
4. The blue zone is the sweet spot to sell on a larger degree daily view as outlined in prior posts.
5. If price declines from here and makes a new low the daily stoch cycle should get underway in the same manner as the cycle up as outlined in earlier post.
6. Move into minute charts and trade short if you’re a bear on U/C.
Lets see how it plays