This ETF has been in a downward spiral for some time now. There is currently upside pressure being supplied to the daily chart, but there has been very little movement in price. Price found support at the latest short cycle target. For price to start a meaningful up move it would have to go through 13.10 and then the first price objective would be 14.30 with a target price of 16.70.
The 15 min chart has upside pressure in the over extended area of the chart. Price should find resistance at 12.63 with a D at 12.92. Look for resistance at 12.77. For the down move to start again price would have to go through 12.26 and then the first price objective for the move down would be 11.95.
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