Sell USTec at 10,550. Stop at 10,600 and target at 10,330.
Yesterday, we had a buy recommendation for this CFD Indices. Price exceeded our profit target and has declined and is currently near to the low. This index has also made a Double Top pattern with bearish divergence in the MACD indicator. This is a sign of a reversal and a high being in place. We think price will decline to 10,328, which is the equal Fibonacci move as well as the target of the Double Top chart pattern.