UFS momentum out of bottom

23 Şub 2015

After the sideways correction from 42 to 37 on low vol momentum and vol came in with a rally setting a new higher high. UFS is currently pulling back and there is potentially strong support in the 42.5-43 area with the prior high, the 38.2 retracement and the monthly R2 aligning nicely. Overhead there is strong longterm resistance at 50-52 which can be used as a price target with the measured move pointing to the same area. Enter if the support holds and the intermediate term trend changes upwards.