UAL, daily
Summary
First target is a break of the lower channel of 18.50, rising to 19.00 later next week. A break of this, should open up a quick of the August 17.40s low.
Considering that WTIC Oil was back below $90 this week, UAL is performing especially weak, and from a chart perspective, the current formation is a very straight forward bear flag.
The underlying momentum MACD cycle has only just gone negative cycle
Only with a break back above $21 could UAL be said to be starting a new phase. Right now, with the tranny closing the month <5000, it looks like UAL has some turbulence imminently due.
