The Direxion Daily Financial Bear 3X Shares (FAZ)Daily Finan. Bull 3X Shs(ETF)(FAS) have been very active over the past ten months. The following is technical analysis on Financial Bull ( FAS ) for 9/4/09.Knowing the support and resistance levels for FAS will help you trade FAZ.
FAS Support and Resistance Levels - September 4, 2009
Resistance Levels: $74.29, $80, $82.31
Support Levels: $70, $66.54, $65
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FAS closed above the $70 resistance level Thursday which is very bullish. The next major level to watch is $74.29 which was the previous support level from 2 week ago. $74.29 is now resistance and if FAS can close above it, I think $80 could be retested. On the downside, if FAS breaks below Thursday's low of $66.54, I will be jumping into FAZ for a trade. If FAS closes below $65, I will buy even more FAZ. For More Technical Analysis - Go Here
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