Direxion Daily China Bear 3x Shares (YANG)

Trading Central
updated | Author's Website

REBOUND EXPECTED

From a technical view, the ETF has broken above a key declining trend line which has been in place since June 2012.



Regarding technical indicators, the daily RSI has pushed above a bearish trend line while the 20-day moving average is pushing above the 50-day moving average increasing upward momentum.



On a relative basis against the S&P500, the Direxion Daily China Bear 3X Shares is shaping a falling wedge pattern and looks set for a rebound.



Trading strategy:

Buy @ $11.15 – Stop loss @ $10 – Target @ $14.05

Copyright 1999 – 2013 TRADING CENTRAL

You may also like: