Do not expect to see the same price action as in April
After a 428$ rise in one hour with huge volume only ~10% of the shorts were closed and because of this we believe that the sentiment is very bearish. From a fundamental point of view this could be because all ETF's got delayed or denied and people expect ProShares to have the same fate.
The rise in price is in tone with our analysis on the daily timeframe. We were expecting to see a correction up to at least the 0.382 retracement. We might see another impulse up to 7018-7087 or 7135-7182 best case scenario and after this 5233-5177 is waiting for us.
The rise in price is in tone with our analysis on the daily timeframe. We were expecting to see a correction up to at least the 0.382 retracement. We might see another impulse up to 7018-7087 or 7135-7182 best case scenario and after this 5233-5177 is waiting for us.
