There is a buying opportunity ahead in the etf if it closes above 77 levels. The Ettf has appreciated from its previous support level upto 10$ which is a good upside return of 15%.

The RSI is trading very high and we expect the RSI to dampen ahead so that its value comes near 65-50, The MACD is still showing an upside trend but the difference between the MACD lie and the trend line is reducing which is a point of concern to the move. The DMI+ is trading above DMI- indicating positive trend and ADX above the DMI- suggest strength to the move.

We will wait for the ETF to close above the mention level, once the ETF is able to close above the mentioned level and the RSI is not above 75 we will advice to go long nor ignore the trade and the following oscillator to confirm the same upside trend.

ESPO

Nov 20 2021