DRIP: the bear in an oilskin ready to hunt
DRIP: the bear in an oilskin ready to hunt
Technical analysis:
DRIP has built a solid support zone between 8.60–9.00, showing volume accumulation and smart money activity. After a recent bounce, the price broke above the 10.00 level and is holding above 10.15. The next resistance is at 10.88, followed by 12.81 and the strategic target of 14.89.
EMA and MA have turned upward, confirming a short-term trend change. MACD is moving toward the positive zone, while RSI remains neutral with room to rise.
Tactical plan: consider buying on a pullback to 10.00-10.15 with targets at 10.88, 12.81, and 14.89. Stop loss below 9.80.
Fundamental overview:
DRIP is an inverse ETF on the oil & gas sector, delivering 2x returns opposite to the market trend. Growing interest is linked to expectations of oil price declines amid potential commodity market correction, geopolitical instability, and seasonal demand slowdown. Another factor is possible OPEC+ announcements on production cuts, which could boost volatility.
Conclusion:
If oil prices stumble over geopolitical hurdles, DRIP might stage a rally where the only bored ones will be those left without a position.
Technical analysis:
DRIP has built a solid support zone between 8.60–9.00, showing volume accumulation and smart money activity. After a recent bounce, the price broke above the 10.00 level and is holding above 10.15. The next resistance is at 10.88, followed by 12.81 and the strategic target of 14.89.
EMA and MA have turned upward, confirming a short-term trend change. MACD is moving toward the positive zone, while RSI remains neutral with room to rise.
Tactical plan: consider buying on a pullback to 10.00-10.15 with targets at 10.88, 12.81, and 14.89. Stop loss below 9.80.
Fundamental overview:
DRIP is an inverse ETF on the oil & gas sector, delivering 2x returns opposite to the market trend. Growing interest is linked to expectations of oil price declines amid potential commodity market correction, geopolitical instability, and seasonal demand slowdown. Another factor is possible OPEC+ announcements on production cuts, which could boost volatility.
Conclusion:
If oil prices stumble over geopolitical hurdles, DRIP might stage a rally where the only bored ones will be those left without a position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔗 Сайт totoshkatrades.com
👨🎓 Наш телеграм t.me/totoshkatrading
🉐 Платформы linktr.ee/totoshka55
💬 Наши контакты @totoshkatips
👨🎓 Наш телеграм t.me/totoshkatrading
🉐 Платформы linktr.ee/totoshka55
💬 Наши контакты @totoshkatips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.