With all due caveats about chart patterns, especially when they are presented in a day trader’s view (i.e. 60 min. or less time frame) here we see the Uncle Buck Bull fund testing neckline resistance to a would-be bearish H&S pattern.
Not shown here, the USD index is bumped right up to its daily SMA 50 attempting to get back over it. So this juncture right here is? Anyone? Bueller? Yes, key.
Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly at USD $345.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas, all archived/posted at the site and delivered to your inbox.
You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.