Long
$UGAZ Wedge
UGAZ has been falling for 6 days in a row now. 8 of the last 10 days. Currently in extreme oversold condition dropping 30% in 2 weeks. Approaching last years lows. Bullish Stochastic divergence. I expect a short term pop to mark the 8th leg of the descending wedge's 9 wave pattern.
Conclusion:
Short term: Bullish
Medium term: Neutral
Long term Bullish
Video explains these circumstances in detail:
https://www.youtube.com/watch?v=K_hz5lLiR_I&t=43s
Conclusion:
Short term: Bullish
Medium term: Neutral
Long term Bullish
Video explains these circumstances in detail:
https://www.youtube.com/watch?v=K_hz5lLiR_I&t=43s
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.