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Inverse Energy ETF Nearing Profit Taking – Could Rally Further

Following up on an exciting article we shared with friends and followers on January 17, 2020, it appears ERY has reached the first stage for profit taking with a fairly strong potential we may see this rally continue even higher.  Please review the following repost of our original research and analysis of ERY back in early January.

January 17, 2020: ENERGY CONTINUES BASING SETUP – BREAKOUT EXPECTED NEAR JANUARY 24TH

ERY BEAR ENERGY ETF – WEEKLY CHART

At the time we authored this ERY article, our team of dedicated researchers believed that Oil would retrace from recent highs near $65 and continue to move lower – targeting the low $50 to mid $40 price level.  Our expectations were that a move in ERY from near $39~$42 to an initial target level near $55~$57 would be an excellent opportunity if Oil broke lower.  You can see the CYAN Fibonacci projected target level that aligns with our original target price level on this chart below.

ERY BEAR ENERGY ETF – DAILY CHART

Currently, we believe this current target level has been successful and urge any friends and followers to pull at least 50% of your profits at this current level.  If you decide to allow the rest of your position to continue, stops should be moved to levels near or below $52.  We believe the continued upside potential for this trade is still valid with a secondary target above $67~$75.  Trail your stop with every new weekly high and look to start exiting this trade on any price tick above $67 or $72.

ERY BEAR ENERGY ETF – WEEKLY CHART

Some resistance may be seen between $56 and $61.  There are historical price peaks near these levels that may act as a price boundary throughout this rally.  Once the $64 to $65 level is breached, ERY should continue to rally higher is Oil and Natural Gas continue to weaken.  Remember, trail your protective stop higher with each new Weekly high.

We are pleased to deliver another incredible trade setup found by our team of dedicated researchers.  Nothing like finding a trade that rallied from $40.50 to 57.33 (+41%) and may continue much higher.

Please take a minute to visit www.TheTechnicalTraders.com to learn about our dedicated services for skilled traders and how we can help you find and execute better trades.  2020 is certain to be filled with extreme volatility and price rotation.  You might as well take advantage of our research and services to create greater opportunities for profits and trades.

Chris Vermeulen
Founder of Technical Traders Ltd.

ERY Rallies Over 35% After Our Call To “Start Looking For The Next Move”

Sometimes, it pays to be lucky and skilled when deploying technical analysis and price theory.  We caught an early move in ERY back in June 2019 for a nice profit.  Then watched as price fell back towards the $44 price level – expecting another base/bottom setup to form.  On September 12, 2019, we issued a research post suggesting to our followers that ERY is reaching a key low point and that traders should start looking for the next move (see below) but before you continue, be sure to opt-in to our free market trend signals newsletter.

We had no idea that Yemen would launch a drone attack on Saudi Arabia crippling their oil production capacity within 5 days of that research post.  All we knew was that ERY was moving back towards a historical low price level that would present another opportunity for skilled traders – an opportunity for profits.

At that time, we believed any price level near of below $45 would qualify as a solid entry point and warned our followers to “watch for any deeper price moves below $45” for key entry levels.  5 days later, a very deep price level printed (near $40) after the attack on the Saudi oil plant.  What happened next?

September 12, 2019: ENERGY SECTOR REACHES KEY LOW POINT – START LOOKING FOR THE NEXT MOVE

DAILY ERY – ENERGY SECTOR ETF CHART

The first real opportunity for a deeper price move below $45 happened on the following Monday after the attack near $40.  This constituted a very deep price decline and provided multiple days of opportunity for entry below $44.

Nearly 3 weeks later, the ERY price rallied to levels above $56 reaching a solid +35% gain.  As we stated, sometimes it pays to be lucky and skilled when trading.  We hope some of you were able to follow our research and catch a part of this move?

CONCLUDING THOUGHTS:

Get ready for the next big move in ERY, folks.  If our research is correct, another setup will happen before the end of October with another basing level below $45 and another attempt at a rally in ERY with upside targets settling near $55 or higher.  It’s just a matter of time before this new basing/bottom setup takes place.  We’ll keep you informed when we believe the timing is right to look for new entry points.

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

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I can tell you that huge moves are about to start unfolding not only in metals, or stocks but globally and some of these supercycles are going to last years. This quick and simple to understand guide on trading with technical analysis will allow you to follow the markets closely and trade with it. Never be caught on the wrong side of the market again and suffer big losses. PDF guide: Technical Trading Mastery

Chris Vermeulen
www.TheTechnicalTraders.com