Financials trapped

  • The weekly chart of XLF shows the clear resistance of the April
  • The daily charts shows that XLF is trapped between the 50d MA and the 20d MA
  • The 50d MA acted as a support with a nice rebound, but the 20dMA is now the resistance level
  • A break of the 20d MA is the first trigger to buy
  • A break of the high of 17.2 is the next trigger

 

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