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themarketzone

Survey - What would you do in this scenario

iShares Biotechnology ETF (NASDAQ:IBB)  
themarketzone Updated   
NASDAQ:IBB   iShares Biotechnology ETF
IBB biotech SPDR S&P 500 ETF (SPY) DXY
5
7
ibb biotech spy dxy
This is a chart that I sent to my members today.
It presents two potential trades on IBB:

1. Bullish (short term) setup - 270$ is the key zone as it presents a weekly support zone.
2. Bearish continuation (based on longer term analysis) - Continuation of the the waterfall that started on May 2015.

Waiting to here your thoughts.

Comment:
Despite Trump's comments, IBB holds the bottom of the channel.
270$ is nearest support.
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