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Daily Natural Gas Related Bull 3X Shares: Set For Rebound

Published 11/26/2013, 11:44 PM
Updated 07/09/2023, 06:32 AM
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From a technical view, the ETF is supported by a bullish trend line in progress since June 2013.

Regarding technical indicators, the 50-day simple moving average is rising and provides support around $34.30. The daily RSI is above its neutrality area. A further upside is expected.

On a relative basis against the S&P500, the Direxion Daily Natural Gas Related Bull 3x Shares is just above the 50 day moving average and looks set for a rebound.

Trading strategy:
Buy at $36.46 - Stop loss at $30.75 - Target at $48.15


Daily Natural Gas Chart

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