jminni

GASL: Exiting Bearish Long-term Pennant with MACD Divergence.

AMEX:GASL   DIREXION DAILY NATURAL GAS RELATED BULL 3X SHARES ETF
59 1 1
GASL:

The trend-lines and MACD divergence a bullish exit between now and January 20.

The previous MACD divergence from 10-27 to 12-11 indicates a slow reversal starting on 12-11.
The new MACD divergence from 12-08 to 1-13 indicates a new trend starting on 1-20.

Major News to consider:
- Iran sanctions lifting, allowing 200K to 1000K barrels oil/day into the market.
- Folding of 60+ exploratory projects by US petroleum companies.
- Defaulting micro-cap and small-cap oil             companies.
- OPEC tension, Saudia Arabia tension and austerity.
jminni
a year ago
One more thing: A reverse-split is very possible by the ETF managers. A reverse split will change the price of the ETF, but it will not change the fundamentals. This is important to keep in mind, for 3x ETF are highly manipulated and subjected to bearish deterioration due to daily re-balancing.
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