Dollar Channel Identified

There’s a possible trading channel in dollar index ETF, UUP.

The channel shown is a Fibonacci 21-days wide; added bonus is max bottom (1/6/21), posted a Fibonacci 13 days after ‘Day 1’.

These are market nuances that can be negated at any moment.

However, if the channel holds, it’s just one more indication we’re at a significant inflection point.

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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