URC is weakening by the day

Weekly: Chikou Span continue to be on the bear side as price did not close 125.5 or higher. Last Friday it closed at 120.5 wherein more trades are happening below that price. While bears are becoming stronger each day, lets monitor its movement. On additional bearish signal will not be a good sign for holders.

Daily: Daily chart shows that URC is at the mercy of this support zone which is the Kumo. Although there is no clear winner between the bulls and the bears at this time, two successive red that will continue to fall may throw the bulls away.

Better not to get in for now until there is a clearer direction for the price.

Caveat!

The following two tabs change content below.

felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

Leave a Reply

}