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RonnieD - 3X such as FAS & FAZ by design loose value over time. So FAZ may have hard time seeing 35 if up and down churning movement continues.

XLF 10% gain followed by 9.1% loss = 100*(1+.1)*(1-.091) = 100

FAS or FAZ moves 3X = 100*(1+3*.1)*(1-3*.091) = 94.5

That is in one cycle of up/down move of 10% FAS/FAZ will loose 5.5%.

Hence, longer term technical analysis of 2X, 3X are not very reliable.