Friday, September 30, 2022 11:10:22 PM
I would wait for confirmation before taking a position in either
1, price action could stay in the green box for a week or so bouncing up and down
2, if xbi does not hold and breaks below the box a 2nd time, likely it will move down to the next channel area
looking at bigger picture in weekly and monthly charts, I think the play is tactical short, shorting XBI rallies until the trend changes
Weekly, linear downtrend being validated with solid volume
Monthly, now all depends on Fed, if they remain with a tight financial cycle, the last decade range would be the box with super long term TL around 50-55
All my posts are opinion only and shall not be perceived as investing advice, I am not a licensed financial advisor.
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