After a strong run up from hitting S3 trend line support UC went into a consolidation phase, a big red candle broke the range and price is now between S 1 and mid point of Clone (C). Price is currently holding at a minor support, a break below could see price fall to S1 support or bottom of Clone (C), a break above mid point of current Clone could see price hit top of Clone (C) near term. Amazing that some of the Clone boundaries align with key pivots.
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nmike
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....bullish price action for the week & a close above Clone A mid point, next target top of Clone A
nmike
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....top of Clone A hit!
Nickmail
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good
nmike
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U.S. commodities ETF versus UC....the ETF also includes some soft commodities
manijeh.kazemi.33
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hi nmike would you please post your trade setup now
nmike
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on weekly still early to say, current price action suggests a correction down to top of reference range or down to last week's low
manijeh.kazemi.33
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thank you very much I think the decline to 1.29500
nmike
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negative divergence in progress but no significant candle reversal pattern & price still above 5 ema