$UGAZ — Watching 10.60/10.45 support for potential bounce

Been keeping an eye on $UGAZ. It’s been pretty volatile lately, but I'm looking at the 10.60-10.45 zone as a potential support area. We saw a dip towards 10.61 today and a quick bounce. If it can hold that level or find some renewed buying interest there, we might see a move back towards the daily highs or even a test of the 11.25 resistance.

My take would be invalidated if it breaks convincingly below 10.45 on decent volume. A close below that would suggest more downside pressure and I'd likely be looking for lower support levels. Always tricky with these leveraged instruments.