DGAZ closes lower for the 3rd day in a row


VS 3X INV NAT GAS (DGAZ) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

DGAZ closes lower for the 3rd day in a row
DGAZ ends the day indecisive

Overview

Moving lower for the 3rd day in a row, DGAZ ended the month 50.06% higher at 430.66 after losing $10.34 (-2.34%) today on low volume. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (DGAZ as at Jun 30, 2020):

Daily technical analysis candlestick chart for VS 3X INV NAT GAS (DGAZ) as at Jun 30, 2020

Tuesday's trading range has been $37.70 (8.98%), that's slightly above the last trading month's daily average range of $32.37. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for DGAZ.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Selling might accelerate should prices move below the close-by swing low at 400.46 where further sell stops could get activated.

Among the two market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Lower Closes" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for VS 3X. Out of 125 times, DGAZ closed higher 59.20% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 49.60% with an average market move of 1.84%.


Market Conditions for DGAZ as at Jun 30, 2020

Loading Market Conditions for DGAZ (VS 3X INV NAT GAS)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when VS 3X INV NAT GAS traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!