XLF Forecast
XLF broke out of multi year resistance level at $29~ After multiple failed attempts. Typically resistance levels become support zones after prices goes thru them. I’m watching current trend for any weakness that could indicate possible move to retest $29.
On weekly chart PPO EMAs have crossed, but week is not over yet. It’s 3rd time this year this cross attempted to happen. If week closes with EMAs being crossed, it would indicate weakness of the trend’s momentum. Interestingly $29 is currently at .5 fib level since 2020 lows.
On weekly chart PPO EMAs have crossed, but week is not over yet. It’s 3rd time this year this cross attempted to happen. If week closes with EMAs being crossed, it would indicate weakness of the trend’s momentum. Interestingly $29 is currently at .5 fib level since 2020 lows.
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