$BBOZ Daily Chart - Daily candle is a shooting star indicating a reversal, at a previous resistance zone with diverging RSI. This adds to the conviction of a potential change in direction. We have also not seen a retest of the breakout levels, so caution is advised
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How good was the analysis ? Wait for a retest of the breakout level around the $12.50 zone. Today's rally is a bear market rally - sharp & violent but will be short. Do not try to pick a bottom. The trend for the market is down and for BBOZ's future direction, watch the index because it has an inverse correlation.
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IMHO the retest is done with a solid green candle. Watch the markets this week. This is a hedge against a loss in the index but a lot depends on how you use & trade it. Please ensure that you understand ETFs, what they are & their pitfalls, & how they work before diving into the fray.
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