UVXY - Bullish Indicators lighting up
UVXY has seen a big spike today of over 30%. With a lot going on in the market which we all know should be fundamentally lower, its time to see a correction.
UVXY has trended downwards in a falling wedge, normally breakout pattern is upwards, and fast.
UVXY has the following bullish indicators:
1) Golden Cross: The MA50 (50 day moving average - blue line) is crossing up and over the MA100 (100 day moving average - red line). This is a major bullish indicator if this stays the course.
2) Falling Wedge Pattern broken, need the candle to finish for the week, to see if we will stay bullish.
3) Bullish Engulfing Candle (needs to finish the 1W candle first)
Once confirmed, we should see some good movement.
UVXY has trended downwards in a falling wedge, normally breakout pattern is upwards, and fast.
UVXY has the following bullish indicators:
1) Golden Cross: The MA50 (50 day moving average - blue line) is crossing up and over the MA100 (100 day moving average - red line). This is a major bullish indicator if this stays the course.
2) Falling Wedge Pattern broken, need the candle to finish for the week, to see if we will stay bullish.
3) Bullish Engulfing Candle (needs to finish the 1W candle first)
Once confirmed, we should see some good movement.