ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[Citrati]

Here is a visual of what huka is suggesting. Interesting that the bb midline and top of nearest market structure support zone are converged at 431.46. Which makes it a very likely bounce point if the trend line and the 13ema fail to hold price. Note also that the midline (20ma) is still rising so depending on how fast the price movement becomes, the midline support will rise from here.



Here is the look on the daily with the suggested dates.