Dollar Fund Testing Resistance

By | July 16, 2014

I mentioned a potential bottom in the PowerShares US Dollar Index Bullish Fund (UUP) on the weekly chart two weeks ago when it was testing support, and two weekly candles later it is testing resistance. Average true range and Bollinger bandwidth are very tight and a breakout, if it occurs, could be volatile. Remember this is a weekly chart and the most recent candle needs a Friday close to completely mature.

45. RVT UUP chart

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.