Thursday, June 17, 2010

UCO - Daily Candlesticks

UCO has its 3 retracement levels shown in this chart. Also the crossing of the middle line in RSI and the 0 line in CCI shows that the stock will be entering a bullish run. Also the projections from the bottom are as follows:

61.8% - 10.0551
100% - 10.8
138.2% - 11.5449
161.8% - 12.0051
200.0% - 12.75
261.8% - 13.9551

It is worth noting the relationships between the retracement levels and the projection levels, especially a 161.8% projection coincides directly with the 61.8% retracement of the entire move. Something to keep an eye on.

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