From a technical view, the ETF has pushed above a key declining trend line which has been in place since February 2013. Regarding technical indicators, the daily MACD has validated a bullish divergence while the daily RSI is reversing up from a support area. On a relative basis against the S&P500, the Direxion Daily Financial Bear 3x Shares is reversing up from its 20-day moving average which is reversing up.
Trading strategy:
Buy at $32.10, Stop loss at $30, Target at $38.