Alerian MLP ETF risks falling to 2021 low
ETF Alerian, after updating the two-year high of $42 per contract as part of a long-term uptrend, began a rapid flight to the $30 support level, breaking through the trend line of the two-year uptrend channel. The current downward dynamics of Alerian's decline puts investors in a stupor, the presence of gaps only confirms pessimistic moods. Pending buying demand is below the $30 support level, which could well be the starting point for a subsequent correction with the potential to recover with a renewed high of $50 per contract.
ETF Alerian, after updating the two-year high of $42 per contract as part of a long-term uptrend, began a rapid flight to the $30 support level, breaking through the trend line of the two-year uptrend channel. The current downward dynamics of Alerian's decline puts investors in a stupor, the presence of gaps only confirms pessimistic moods. Pending buying demand is below the $30 support level, which could well be the starting point for a subsequent correction with the potential to recover with a renewed high of $50 per contract.