ERY Energy Bear 3x ETF Daily Chart Oversold Falling Wedge Positive Divergence

ERY is a dangerous triple X ETF that moves inverse to the energy sector. The drop thru the falling wedge is dramatic.  Price is now printing at levels from February.  The indicators are positively diverged, the MACD line over the last couple week still wants to see some price weakness, but overall, price is setting up to launch.  The weekly chart is positively diverged as well. After such a drop, price will need time to base across the 8.2-8.8 area.

Keystone opened a position in ERY today.  If ERY bounces from here in quick order, the trade will take profits and exit, and then look to reload. If price drops further, the position will be increased. Price is teasing the lower BB (pink lines), so a move back up to the middle BB, which is also the 20-day MA at 9.88 now, at a minimum, would be in order. Projection is for a bounce to occur in ERY at anytime. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.