Volatility about to break out? $UVXY the path to $60+.

Panjang

ProShares Trust Ultra VIX Short Term Futures ETF (AMEX:UVXY)

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AMEX:UVXY ProShares Trust Ultra VIX Short Term Futures ETF

trendanalysis pivotpoints supportandresistance uvxy volatilityindex

$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.

Komen:

Made my last buy at $11.57. Now we wait.

Penafian

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