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This is just purely speculation! I welcome criticism, please comment down below what you think.
Market, especially tech are reaching all-time high, together with the instability regarding the 2nd stimulus package and the 2nd wave. I would expect the market to run move sideways a bit until big news or other confirmations arrives. At the moment, UVXY reached a strong support level , and RSI has some room to run. I suspect for the short-term, the ticker would move up to the lower Fibonacci level until Congress agrees and releases the stimulus package.
Market, especially tech are reaching all-time high, together with the instability regarding the 2nd stimulus package and the 2nd wave. I would expect the market to run move sideways a bit until big news or other confirmations arrives. At the moment, UVXY reached a strong support level , and RSI has some room to run. I suspect for the short-term, the ticker would move up to the lower Fibonacci level until Congress agrees and releases the stimulus package.
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TP: 37
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