View: Update on financials XLF.png
Update on financials XLF.png
2 months ago I posted on XLF suggesting the top was likely in (see previous post). As I review the price action is mostly likely forming a triangle before a final major drop. My intermediate term target is on the daily chart. I don't know if it will stop at the long term uptrend line or go on to close the gap. Take care. Good trading to you.
PS: Notice the nice channels. Also there is a negative reversal in the daily RSI followed by a bearish divergence which I have pointed out before often leads to lower lows.
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