Long DUG at 25.17, sold at 26.30

The weekly chart of DUG (ProShares Ultra Short Oil & Gas) was showing signs that the support line at 25 is holding.  It has been in a channel for the last 5 months.  There is a bullish divergence in the MFI, and ADX is showing a weakening down trend.  I think it is possible that DUG is forming a bottom.

The daily chart shows the 5-month channel more clearly.  It also shows an oversold MACD which seems ready to turn up.  In fact, MACH-H has already started turning up.  Slow Stochastics is still in pre-buy, so maybe this move was premature.  But Stochastics is also showing a clear change in rithm since the start of March, with clearly defined waves.  The same change in tempo is also visible in RSI, which is at near oversold level. 

MACD on the hourly was showing a buy signal.

I think all of these signs are indicators of a bottom. At the very least, it's a low-risk entry, for being so close to the support level.

My stop was hit on the open on August 1st, because DUG opened really low, and then proceeded to rally for several days.  I think I had some bad luck here.  I should have stuck to my analysis and bought it at the next chance, even if at a higher price than what I sold it for.