12.20-12.25 may provide resistance now for XLF on an intra-day 60 min chart. This resistance could pin XLF at its 20EMA. Any selling pressure could send it below it.
I am still holding FAZ.
Tuesday, June 16, 2009
Watching Da Banks
XLF has been having some trouble moving up with this market, maybe they need another mysterious memo to fall out of the sky. I've been mentioning to watch the 20EMA-12.12. This has been a level of support for XLF.
12.20-12.25 may provide resistance now for XLF on an intra-day 60 min chart. This resistance could pin XLF at its 20EMA. Any selling pressure could send it below it.
The daily triangle on XLF still has not been resolved and is getting tighter to an area where it can go either way now.
I am still holding FAZ.
12.20-12.25 may provide resistance now for XLF on an intra-day 60 min chart. This resistance could pin XLF at its 20EMA. Any selling pressure could send it below it.
I am still holding FAZ.
