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Vde opened today confirming a bullish pennant that has formed look for the price to go to $72
VDE entry last year (start of 'Q2')
VDE is going through a Fibonacci time zone on January 25 I see the ETF recovering up to $59.36 on January 29 before dropping to the $56 area where the confluence zone is.
I would look to get out around 47.30$ maybe even a bit lower , not sure what your target was this analysis is personal opinion , in no way it's a professional guidance for a particular position. I do wish you luck, sounds like this one will be a great winner for you :)) what's your vision on it, where do you think you will actually get out? sometimes its best...
Look for a bargain on VDE there is a possibility that it could go down to $45. After that it has potential to go to $55 in 1-2 weeks.
Investing in VDE now could give you more profits, but investing now doesn't gurrantee anything. Still would wait until breaks through 200 day moving average of 69.80.
VDE on support. Next move is telling. MACD fallen below support. looks to be the direction, but we will see.
I would like to see a stronger RSI and a 6/10 MA crossover. But I am mostly certain the trend has turned up.
VDE's weekly candle was also a strong bull that closed above the 50 EMA...many signs pointing higher!
While a bit premature, a tactical long position in VDE with a tight stop makes sense. IF Energy is making a lower-intensity higher-low then it may turn around these levels. Stop is tight because the ST downtrend has not been broken yet. Risk/Reward is compelling.
In June 2010, after 50% retrace it bounced strongly and gained 66% in the next 10 months. Is it in a similar situation today? we will have to see how it behaves in June.
VDE broke out strongly this week, ended its down trend and started its up trend. There will be pullbacks and can be buying opportunities.
MACD broke out, RSI rising channel formed. and price is breaking out of the channel. A pullback from here is reasonable but a continuing rising RSI may signal a strong breakout in coming weeks.
Comparing with 2008 bottom process, 2016 so far has similarly diverged RSI and MACD. This may indicate a bottom might be in. Will need breakout to confirm.
Pulled backed logically from red resistance. Nothing is concerning at this point. We will what it brings next week. 10 MA, RSI and MACD all healthy. Will be concerned if pink line and 10 MA gets taken out.
Still a little early to call, but past bottom triangle patterns strongly suggest the chance is good. To confirm, we want the red resistances to be cleared. MACD has already been in the positive zone.
VDE bounced of blue support line from 2009. Meanwhile DXY (dollar index) is facing red resistances.