REBOUND EXPECTED {{HTML1}}From a technical view, the ETF has broken above the upper boundary of a bearish channel which has been in place since August 2012.

Regarding technical indicators, the 20D moving average is turning up while the daily MACD is pushing above its signal line calling for a rebound.

On a relative basis against the S&P500, the Direxion Daily Gold Miners Bear 3x Shares is in a basing process and looks set for a rebound.

Trading strategy:

Buy @ $25.96 - Stop loss @ $24.45 - Target @ $30.50

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