My instinct says price going lower but valuation says different. Everything on this chart is indicating that UC should be valued higher. I agree it looks risky as the market is very bearish but I will look to enter around the 1.3450 area with a TIGHT stop unless it blows through that area. There's still a real possibility this will crush to the 1.3200 level.
Yellow line is copper/ gold ratio which has shown to be a good leading value line over the last few months. Blue line is bond yields. The oil supply/demand curve not shown as it obscured the chart too much but also indicating value should be higher.
Yellow line is copper/ gold ratio which has shown to be a good leading value line over the last few months. Blue line is bond yields. The oil supply/demand curve not shown as it obscured the chart too much but also indicating value should be higher.
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Update to be posted - value lines have changed and this picture is no longer valid!