Direxion Daily China Bear 3x Shares (YANG)

Trading Central
updated | Author's Website


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

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