Replies to post #24977 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[RBKissMyAs]

Good work there Ryan.

[betahighlander]

Is this the critical time in your chart?

Gotta be about now

[Ryantacular]

Well between noon and 1 is when she hit the top of the descending triangle, and broke back down after over extending too far from the down trend line. She still, however, is inside of the descending triangle, but the end is getting near.



Here she is on the 15 minutes,



And here she is on the hourly,



Technicals have been driving the price hard since 40 broke, and I expect that to remain the case. You can reason with fundamentals, but ultimately technicals is driving this down.

This is my last post of the afternoon.