Just look at the AD line:
With its sharp V-shaped recovery, the A/D Line (middle area) shows that the recent price rise is being driven by significant capital inflows and strong buying interest.
The Accumulation/Distribution Oscillator (lower panel) underlines this with an exceptionally high green bar, indicating massive buying pressure in the recent trading period.
At the moment there are no obvious negative divergences between price and indicators. Rather, the indicators are signaling strong bullish momentum, which is supporting the current upswing. For an instrument as volatile as a leveraged ETF, this is a remarkable sign of the strength of the current move.
I don't want to sound euphoric, but THIS is a BIG BUY!
With its sharp V-shaped recovery, the A/D Line (middle area) shows that the recent price rise is being driven by significant capital inflows and strong buying interest.
The Accumulation/Distribution Oscillator (lower panel) underlines this with an exceptionally high green bar, indicating massive buying pressure in the recent trading period.
At the moment there are no obvious negative divergences between price and indicators. Rather, the indicators are signaling strong bullish momentum, which is supporting the current upswing. For an instrument as volatile as a leveraged ETF, this is a remarkable sign of the strength of the current move.
I don't want to sound euphoric, but THIS is a BIG BUY!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.