Fooling Financials ?

Looking at the XLF chart, I see 2 possibilities

Or we have a head and shoulder pattern and the latest move up towards the 50d MA is a fake move and the last weeks break below the neckline will resume

Or we have a good support level at 16.25 and the last 3 daily closings below that level are a fake move.

I will let the stock tell me the direction in the coming days. Compared to other sectors, the financials still are performing bad since the 2009 crisis.

 

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