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zaetzj

GUSH pullback then retest recent highs

Long
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (AMEX:GUSH)  
zaetzj  
AMEX:GUSH   Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares
Chart Patterns Technical Indicators Fundamental Analysis gush GAS Oil
3
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chartpattern indicator fundamental gush gas oil
GUSH (2x BULL Oil/Gas ETF) Macro events are evident and rising that would suggest a further rise in gas/oil prices. Looking at the chart GUSH appears to be consolidating nicely headed to the $107.70 s/t support area. If the $107.70 is broken I would be looking for a bounce from the $103.66 area. This could be a great long term play but I would recommend taking profits quickly, due to the high volatility of leveraged ETF's. This is not financial advice, if you have any insights they are welcome in the comments. Happy trading :)
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