DGAZ shows a descending pattern after topping out at expected resistance. Currently making way to support and will touch and reverse after consolidating somewhere around $145 and will be potential swing trade opportunity. Red Tunnel is rough operating margin(Red Lines). Blue and Green lines represent the long term support and resistance. Projected reversal date is August, 30th and optimal buying price range will be somewhere between $143 to $147 (Green Box). Will consolidate for a short time before beginning an ascending trend. This is in no way professional advice and only reflects my personal opinions.
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I predicted a steady decline over the next 15 days. It turns out I was right about the decline but my time estimate was off. I Still see DGAZ reversing around 145, however instead of touching first then consolidating I feel that we will be given the opposite. Prepare for consolidation in the next week or so followed by a sharp drop and a timely ascending pattern after. I am certain of the reversal which will give traders an opportunity to make around 40-50%. Not bad returns as the total markets near a recession right?
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