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  • This Is Bearish Price Action

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    glerner133926
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    The document discusses the weekly chart of the S&P Select SPDR Financial Fund (XLF), an ETF that tracks the financial sector. The price is below the three most recent key support and resistance levels on the chart, indicating bearish price action. A weekly close below $13.76 for XLF would confirm the bear market interpretation, with support at $12.38.

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    This is Bearish Price Action

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    The document discusses the weekly chart of the S&P Select SPDR Financial Fund (XLF), an ETF that tracks the financial sector. The price is below the three most recent key support and resistance levels on the chart, indicating bearish price action. A weekly close below $13.76 for XLF would confirm the bear market interpretation, with support at $12.38.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato DOCX, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    11 visualizzazioni1 pagina

    This Is Bearish Price Action

    Caricato da

    glerner133926
    The document discusses the weekly chart of the S&P Select SPDR Financial Fund (XLF), an ETF that tracks the financial sector. The price is below the three most recent key support and resistance levels on the chart, indicating bearish price action. A weekly close below $13.76 for XLF would confirm the bear market interpretation, with support at $12.38.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato DOCX, PDF, TXT o leggi online su Scribd
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    di 1

    This Is Bearish Price Action: XLF

    Guy M. Lerner
    www.thetechnicaltake.com

    Figure 1 is a weekly chart of the S&P Select SPDR Financial Fund (symbol: XLF). 
    The red and black dots are on the price chart are key pivot points, which
    represent areas of buying (support) and selling (resistance).

    Figure 1. XLF/ weekly 

    This is a widely followed ETF that correlates highly with the market.  As the banks go,
    so goes the market.  Currently, price is below the three most recent key pivots and
    there is only 1 interpretation for this finding: bear market.  A weekly close below
    13.76 would seal the deal.  Support levels are at 12.38.

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