BOIL reverses from a quick downtrend LONG
BOIL on may 9th went into hard resistance in the highest VWAP line area, the Hull moving
averages did a death cross and it fell 12% into the support of the first upper standard
deviation line where it double bottomed with a reversal. The ZL MACD shows lines and
trends that are confirmatory. As a result, I have closed my short trade from my prior
idea and revested the capital gained into a long position of stock and calls. If you
are interested in knowing targets or stop losses, please leave a comment.
averages did a death cross and it fell 12% into the support of the first upper standard
deviation line where it double bottomed with a reversal. The ZL MACD shows lines and
trends that are confirmatory. As a result, I have closed my short trade from my prior
idea and revested the capital gained into a long position of stock and calls. If you
are interested in knowing targets or stop losses, please leave a comment.
Trade active:
BOIL is now a short on a weekly chart in a ratio with KOLD
