oversold at $70??? After it has been going up from $56? You must make up your own rules as you go, immaterial of what actually is. TBT is NOT oversold. On the dailies, it is actually in overbought territory with the Stochs at 81. Just under $72 will act like a granite ceiling. GL!!
We've been between 56 and 69 for a year....69 is a triple top for the year...so we're going to break out hopefully to the top...and if not soon, the another correction and the eventual break out above above 69 will be even more powerful.
Another clueless investor in TBT. TBT is incapable of breaking of breaking out higher because it is not designed to do that. It was always a hedge and no more. This is NOT an investment...its an in and out trade at best. TBT has NEVER broke out to new highs, never. If you cannot see that, you have a serious problem or simply cannot read a chart. It has been decaying and hemorrhaging since 2008 when it was over $320. Ever since then, it has been stair.stepping down, further and further, getting closer and closer to ZERO.