YINN the China Bull EFT has uptrended dramatically of late however
it is far extended above its moving averages while the RSI indicator shows
decreasing strength as a divergence. Price rise is hitting the resistance of
the POC line of the intermediate-term volume profile where sellers will
step in and invoke selling pressure in a triple top making the resistance strong.
I expect it to drop now and perhaps dramatically,. Inversely the YANG
ETF, a bearish leveraged fund will rise. By a Fibonacci analysis, a 15%
drop is expected before another inflection. Accordingly, I would set
up a stop loss of 3-5% on the short swing trade setup .
it is far extended above its moving averages while the RSI indicator shows
decreasing strength as a divergence. Price rise is hitting the resistance of
the POC line of the intermediate-term volume profile where sellers will
step in and invoke selling pressure in a triple top making the resistance strong.
I expect it to drop now and perhaps dramatically,. Inversely the YANG
ETF, a bearish leveraged fund will rise. By a Fibonacci analysis, a 15%
drop is expected before another inflection. Accordingly, I would set
up a stop loss of 3-5% on the short swing trade setup .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.