AMLP Has the Right Look of a Capitulation Low in the MLP Space

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Below is what we discussed yesterday. Alerian MLP ETF (AMLP) is green now, after plunging slightly beneath my next, lower-target zone of 9.95-9.75, to a new low at 9.54 prior to reversing strongly on huge volume. As of this moment, AMLP has the right set up for a key, upside reversal on giant volume, which is a sign of capitulation followed by a "buy-vacuum." Let's see if AMLP can close green for the session. MJP 12/08/15 The vertical plunge in AMLP continues towards a next potential support

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