USLV hast retraced to about the 50% Fibonacci level and completed a gap fill. Looking for a bounce to the upside to test its previous high. We possibly could see another breakdown in price and it fall to 11.70. I have already entered the trade looking for a pop back up. Entrancement corrections can move quickly in-favor or against you.
Target 1= 12.71 Target 2= 13.15 Consider buying more around 11.71 as the final flush might cause the leveraged ETN to run downward. Stop = 11.40
If you get stopped out I would consider reentering a long position with new targeting as the overall trend is upward in my opinion.
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