Long-term downtrend in Master Limited PartnershipsMLPA price action suggests midstream energy MLPs may be developing a new uptrend.
MLPA trade ideas
MLPA: Compression at the bottom of bullish channelThe current channel in MLPA began April 2020, with the long-term resistance line crossed in January 2022. Bullish channel is now 3.5 years old and may be pushing to longer term key level at $48.50. If the price action moves to the top of the current channel, share price will approach $55.
However, beyond that, 8-year resistance at $60.
I LIKE THIS SETUP IN MASTER LIMITED PIPELINE PARNTERSHIPSThere are some pretty charts out there (looking at you, Silver) but this one is a Hot Tamale!
A Blue-Ribbon Winner in the Ascending Triangle category!
MLPs Testing resistance A measured move after a break of long-term resistance suggests a move of +45%
