The fund has been consolidating since mid-may, but now it broke out of a short-term resistance. I would wait for 1 more bullish sign before getting in, like a close above 166 with good volume for instance. Also interesting to note is that it re-entered an ultra long-term trading range from the weekly chart. If this new support line doesn't hold expect the bulls to swoop in quickly for the kill. Notice the sharp decline of the the lower support line (pink). Happy trading.
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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.