Below is the current chart. It rallied back up to kiss the lower rail from below. Again we have a chart that gapped up but could not take down the resistance. That is not bullish IMO. It's unusual to have two gaps in a row so I suspect this is going to peter out here. Of course, it's all about odds and triggers. If this can break back up into the channel then UVXY will probably head down to $8 before finally finding real support.
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