PowerShares DB US Dollar Index Bullish Fund (
This exchange-traded fund (
) seeks to track the price and yield performance, before fees and
expenses, of the Deutsche Bank Long US Dollar Futures
On Dec. 18, at $23.01,
, "Curiously, the UUP
at $22.02 on Nov. 25 and Dec. 1, closing [Dec. 17] at $23.03 after
plowing through its 20- and 50-day
on very high
. From a technical point of view, it looks like the dollar has
And on Jan. 19, I said, "The dollar rallied, popping from its
20-day moving average on a gap-open. But UUP must close over $23
and then move above the 200-day moving average before a change in
trend can be firmly recognized. Currently, though, the chart is in
favor of a bullish turnaround with a target of $25-plus."
The rally in early February accomplished both of these tasks,
and the gold cross in late February and last week's reversal from
the 50-day moving average are confirmation that the trend for the
dollar has changed to a strong bull market.
Buying volume is high, and the stochastic issued a buy signal
Wednesday. The target for UUP remains at $25-plus.
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