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AJby u/arthit_j·8hAnalysis

USLV Testing Resistance After Recent Pop

Been watching $USLV closely after it caught a bid yesterday and is now up almost 2% today. It's approaching what I see as a fairly significant resistance zone around the 13.65-13.70 level. We saw some selling pressure kick in there a few weeks back, and it coincides with a prior swing high.

My take is that a sustained break above 13.70, especially on decent volume, could open the door for a move towards 14.00+. However, a rejection from this area, perhaps with today's close back below 13.60, would suggest the range-bound action continues. It's a key spot to watch for direction.

2 comments · 1 points

2 Comments

BRu/brandonlee·6h

Interesting levels to watch. I'd be more convinced by a close above that range, given how quickly these moves can retrace if the underlying doesn't follow through.

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STu/set_trader_thThailand·6h

I'm seeing that same resistance level. Given how quickly it popped, a retest of support seems more likely before any sustained break higher. Volume has been pretty anemic on this move.

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