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Weekly forecast UMA technical chart

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.900 to 1.790). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.900)
  • Ending of entry zone (1.790)

DateMay 28, 2023 - 12:22
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.650, beginning of uptrend is expected.
  • We make sure when the resistance at 3.285 breaks.
  • If the support at 1.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.790 on 04/26/2023, so more gains to resistance(s) 2.210, 2.525, 2.960 and maximum to Major Resistance (3.285) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 44.

Take Profits:

  1. 2.210
  2. 2.525
  3. 2.960
  4. 3.285
  5. 3.745
  6. 4.235
Click on the level to view price action history.

Symbol Released Current Forecast
UMA (UMAUSD) new Wed, 19 Jun 2024
UMA (UMAUSD) Mon, 10 Jun 2024
UMA (UMAUSD) Sun, 2 Jun 2024
UMA (UMAUSD) Sun, 26 May 2024
UMA (UMAUSD) Sun, 19 May 2024