XLF very bearish
Updated
Hi traders
XLF looks very bearish. Look at the daily candle from yesterday! No wicks. Bears are in a full control. Not expecting any short-term reversal on XLF yet.
Lower highs shows an on-going bearish distribution. Once we get a mark-down phase, XLF can drop even 10 % from the current levels.
Downtrending RSI confirms our bearish bias.
The target for shorts / entry for longs area is shown on the chart.
Good luck
XLF looks very bearish. Look at the daily candle from yesterday! No wicks. Bears are in a full control. Not expecting any short-term reversal on XLF yet.
Lower highs shows an on-going bearish distribution. Once we get a mark-down phase, XLF can drop even 10 % from the current levels.
Downtrending RSI confirms our bearish bias.
The target for shorts / entry for longs area is shown on the chart.
Good luck
Note
so far so good
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