• UVXY has carved out a potential Falling Wedge
  • Since I cannot rule out another lower low within the converging pattern I would open a long position either above 16.90 or wait for a reversal at a lower low provided the lower trend line os not breached.

  • If the wedge plays out the target located at R = 23 in my opinion should be doable ( 36% upside from 16.90)

 

UVXY DAILY CHART

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