Last time we looked at UPS, we noted that its false bearish breakout suggested a pending bullish breakout.UPS Daily Chart(click to enlarge)Bullish-Neutral:- The daily chart shows a market that has been bullish since 2016, but has somewhat flattened. - Price action recently looks to be reviving the bullish outlook.- The false breakout to the downside in May suggested that the bearish correction might be over.- Last week's bullish breakout above 100.50 could signal this bullish outlook, but price is still seeing some resistance here around 111.- Clearing above the 112 handle might bring in more bullish momentum. Secular Bull Trend:- The weekly chart shows that the market has been in a long-term uptrend since the financial crisis of 2008. - The fact that price bounced off the 200-week simple moving average (SMA) suggests that this is still a bullish market.- Furthermore, the RSI held above 40, suggesting that the prevailing bullish momentum since 2016 has been maintained. - We might even anticipate another high (above 120) by 2018. UPS Weekly Chart(click to enlarge)