Been waiting ages for a break on this ETF... its just looking more and more bullish. I think we can see an explosion higher when 19.15 eventually breaks targeting 19.80. Been building a position while it has been consolidating
I am not as bearish on dollar as general market consensus.
From a technical perspective:
- Sitting on good weekly support
- RSI divergence
- RSI oversold territory
- Extended from 20SMA
Slowly scaling into my long term portfolios at these levels for a bounce -think the RR is decent and a 1.4% divi yield helps. Good diversification option (dollar & fixed income).