9th day of $QQQ short term down-trend; $UWTI has high volume bounce–bottom for oil?

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I have written that one way to play a possible bottom in oil is to buy the 3X leveraged bullish oil ETF, UTWI.   On Wednesday, UWTI rose 10.71% on unusually high trading volume.   Check out the daily chart for UWTI. Is this the beginning of a bottom?   With so many media pundits   rushing to lower their estimates for the price of oil, it may be in bottom territory. (Click on chart to enlarge.)

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