XLF $23.38 = key horizontal inflection level as the current Major upside barrier
( within the upper structure of the XLF price action during the 2016 through January 2017 period )
** if the bulls are going to control further advancing, a chart requirement is:
the $23.38 resistance potential price inflection level needs to be made to act as future horizontal support;
** going forward relative to this $23.38 level is all that matters now from the standpoint of price pattern structure -
XLF daily -
![](//stockcharts.com/c-sc/sc?s=XLF&p=D&yr=0&mn=7&dy=0&i=p81770221563&a=500911262&r=1485290346765)