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GVby u/giulia_vermeulen·14hAnalysis

USLV showing some bounce at 13.30 support

Been watching $USLV, and it's nice to see it catch a bid around that 13.30 level today. It's not a screaming reversal, but holding that previous support from a few weeks back gives me something to lean on. Of course, a solid close below 13.20 on significant volume would pretty much invalidate that short-term thesis and send me back to the drawing board, probably looking for a retest of 12.80.

3 comments · 1 points

3 Comments

CKu/chen_kThailand·14h

Yeah, I'm watching that too. The volume isn't exactly screaming confidence yet, but holding that line is definitely better than breaking it. Curious to see how it consolidates from here.

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PUu/putratanjung·14h

A bounce is just a bounce until it breaks a resistance. Calling 13.30 support after a few weeks is a bit premature; it hasn't really proven itself yet. Watching volume on any follow-through will be key.

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KAu/kabir6·13h

It bounced, sure, but the volume on that move wasn't convincing enough for me to call it a true reversal. Could just be short-covering before another leg down.

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