AMEX:GUSH   Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares
GUSH has been on an uptrend for 2 years and 8 months and has followed many Fibonacci sequences during that time. Will the bearish fib play out, reverse from the 0.786 zone at $210 and fulfill the -0.27 extension of $77.64? This would align perfectly with a bullish Fibonacci sequence drawn from the low in August 2021 to the high of June 2022. On the bullish fib, the retracement levels at 0.618 ($94.00) and 0.786 ($72.00) create a confluence with the bearish fib extension of -0.27 ($77.00).

Time will tell if the bearish fib chooses to play out. With one more leg lower on USOIL, sub $100 is definitely on the cards for GUSH.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.