DRV (Real Estate Bear 3x ETF): IWR Bearish Watchlist

By: TheWaveTrading | Wed, Apr 23, 2014
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Reason: Potential Bullish Falling Wedge

This is a short-term trade setup.

If the Bullish Falling Wedge pans out it should result in a sharp rebound with a potential target in the range 46.16 (Gap) - 47.28 (Last lower high).

The RSI (5) positive divergence favours a tradable bottom which needs to overcome the resistance located at 45 opening the door to achieve a move towards the target box.

DRV Daily Chart
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TheWaveTrading

Author: TheWaveTrading

TheWaveTrading

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