Technicals don't apply to UVXY etf
This is designed to lose 20% every month due to contango alone .. Compound 20% every month, annually it is designed to lose 93.6% .. Look at the charts and that's exactly what it has done.
Guaranteed there may be SHORT spikes to pull in some FOOLISH longs. But the trajectory over a year is still to lose 93% no matter what happens to the markets