UVXY: The Movement Pattern
Hello everyone! Today i want to share some technical analysis with you!
1.
This breakdown of $ProShares Ultra VIX Short-Term Futures ETF(UVXY)$ calls into question of any further bearish move of the broader market--Now, I have to update & revise my short-term bearish wave count and give the bullish option an upper hand. Will explain more in the weekly Scroll. Just want to give you a heads-up.
UVXY at the lower edge: (1) $UVXY headed lower and closed in to the lower edge of the triangle formation. (2) with the broader market impulses higher, it indicates further easing of the volatility pressure after Election. (3) this structure doesn't look like a pending panic. NTA
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