Nice rounding top forming on the XLF.

Short

SPDR Select Sector Fund - Financial (AMEX:XLF)

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AMEX:XLF SPDR Select Sector Fund - Financial

chartpattern xlf financials financialsector

Weekly chart of the $XLF. Rounding top off as it battles the price shelf (VPVR on right). Likely to struggle on the way down to truly fall but will ultimately fail at the 72 to 89 EMA cloud (red cloud). Likely retesting $31 towards the end of this year.

Commentaire:

Looks like next week we will likely be testing that 72/89 EMA cloud. Moment of truth once we are there.

Commentaire:

This is working out like a textbook. Now testing the 72/89 EMA cloud. I suspect a small bounce and then a drop as the directional line suggests. $31 is still the target.

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