Volatility about to break out? $UVXY the path to $60+.
UVXY looks like it's on the verge of breaking out to the upside. We a falling wedge which broke out to the upside and now price has found support on the top of the structure. Usually that indicates a large move upwards is coming.If it starts moving, I can see a quick move up finding a final target of around $62.
Let's see what happens over the coming weeks. I've started buying in the low $12 region.
Note
Made my last buy at $11.57. Now we wait.
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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.