SPXU Gold Mine---Shh...
Daily Chart. Short-Term Trade Idea. Long Play on SPXU .
SPXU is an inverse of S&P 500 and has been in a downward trend for almost 10 years (since 2009). Makes sense as the S&P has been in an upward trend since the great recession in the U.S. However, SPXU recently broke out two times this month with confirmation each time (large green bars).
Note: Red line represents 20 days ( ); Green Line 50 day; Blue Line 200 day.
Wait for a pull back on the based on a FIB ratio (23.6%, 38.2%, 50%, 61.8%) or Green 50 day MA
First Target $13.00 (200 MA) range (likely)
Second Target (Resistance): 15.50 range (TBD)
Third Target (Resistance): 17.50 range (TBD)
Hit the Like Button if you Dig. Good Luck!
**This is not financial advice. This trade is for educational purposes only. Always trade responsibly & don't lose more than you can afford.***