I did mention that LABU would very likely tag $33 before pulling back and I was right on the money. My hourly charts are looking rather bearish at the moment, meaning we could see a bit more weakness tomorrow and possibly Wednesday — a drop to $29 which would also coincide with the %38 Fib Retracement is very likely but not set in stone.
After that I expect the rally to continue all the way up to $36/$38 :)
Lets also take into consideration we have FOMC on Wednesday so some consolidation here would seem logical.
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