The ProShares Ultra VIX
Short-Term Futures ETF
is approaching the April bottom and the symmetrical Lower Low on the 1M Falling Wedge
. Being oversold ( RSI
= 6.651, MACD
= -1698.076) a strong cyclical rebound is expected on a very structured and recurring candle pattern. We are on a long term buy on UVXY
with TP = 75.00.
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