With the drop in oil prices, 
JETS, the new ETF that holds airline companies like Delta (
DAL), American Airlines (
AAL) and southwest airlines company (
LUV) had a very nice rally during the month of July.
The
ETF rallied all the way up to the 88.6 Fib level to complete a bearish Bat pattern and declined from there.
The pattern's targets are 23.5$ and 23$ which also come with daily support zones.
The current price level offer about 1:1 R/R ration for the short position with stop loss above X and 23.5$ as initial target zone.
This might work with the bullish scenario I posted earlier for oil
JETS, the new ETF that holds airline companies like Delta (DAL), American Airlines (AAL) and southwest airlines company (LUV) had a very nice rally during the month of July. The
ETF rallied all the way up to the 88.6 Fib level to complete a bearish Bat pattern and declined from there. The pattern's targets are 23.5$ and 23$ which also come with daily support zones.
The current price level offer about 1:1 R/R ration for the short position with stop loss above X and 23.5$ as initial target zone.
This might work with the bullish scenario I posted earlier for oil
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