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Wednesday, November 15, 2017

UVXY - Short Term Support and Resistance

UVXY gapped up above the blue resistance, and is currently trading within the fairly aggressive turquoise fork.  Price should transition into the orange fork with a more gradual and realistic pathway going forward.

It is unlikely that UVXY has bottomed, but a stronger bid is to be expected short term.    

30min Chart

26 comments:

  1. Seven up days in a row for UVXY!!

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  2. Dip soon, but UVXY look like it can grind higher for a few weeks.

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  3. bullish looking patterns on hourly chart if the cup and handle breaks above 2585.50 we will see 2609

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  4. SC, could you be more specific about the turn dates?

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  5. Tomorrow first close in 2600s. S&P 2557 was a major bottom. Revise: UVXY 13, then under 10 easily..and shortly.

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  6. The turn dates clustered close together suggests chop. At a high currently with chop. December 10th turn date may be the low.

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  7. UVXY near orange support. I could see it pop to $17 to test midfork.

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  8. Panic around December 10th with UVXY spike.

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    Replies
    1. Are you looking for a spike 217 by December 10th in that area or you looking for a spiketo 17 and then on the 10th I'm much bigger Spike your thoughts

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    2. Pop to $17, chop to $15, and spike to $25 for UVXY. Santa may come early for the bears!

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  9. VIX looking very strong. Golden cross coming soon.

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  10. i will buy more if she hits 14 area to 14.75

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  11. I'll wait and see here now. We'll see. If UVXY comes lower that is fine. I would look to add at the pink line. If it does come lower though the target will have to be reduced from $25 to $22. Still a nice profit either way.

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  12. hoping for a fairly major pull back on xiv in the coming 2 weeks to 75 to 85 ...

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  13. the chaneell that its in the bottom could be 14 area

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    Replies
    1. The pink line is sloped down though.

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  14. XIV was overbought in October, but hasn't been overbought yet in November. So that is the only thing left. It might see grossly overbought before it turns down.

    We are down to the final details...

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