I am rather excited by the price action of Cache Logistics Trust today. Price formed a wickless white candle as it closed at 96c, the neckline of the potential reverse head and shoulders pattern I mentioned in earlier blog posts. It remains to be seen if this resistance could be overcome. 96c is also where we find the 200dEMA.

If resistance at 96c were taken out, using Fibo lines, I see more significant resistance provided by the golden ratios at 98c (138.2%), 98.5c (150%) and 99c (161.8%). I initiated a long position in this trust at its lowest not long ago and added to my position shortly after…