I noticed increased volume and price recorrecrion in leveraged bearish Energy etfs like HOD, HND, DRIP, ERY. Do you think it’s an overreaction to OPEC talks or possible wider trend?
If you look at the 1 day candle with 10/30/200 ma the 10 seems to be crossing the 30 with the 200 closing in from its massive downtrend. Id love to get the opinion of someone who has a better understanding of technicals. These babies tend to skyrocket whenever oil tanks and there’s already talks of releasing more supply.
Factor in the potential for more lockdowns worldwide brought on by the delta variant.
I’d like to get the apes thoughts. To me this looks like a greasy trade.
How would you play this?