A Bull in Bear's Clothing

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After breaking resistance on 3/23 it had a false breakout and set a new resistance level at $41, then broke a new resistance line on 6/09 at $39 going up to the prior resistance level of 41 then declining again., then testing the $39 dollar level again to continue to decline. A third resistance level has formed at 38.50. Instead of continuing to decline it is been consolidating then broke lower to 38 only to consolidate again, indicating that a larger move either direction might be brewing. Since this ticker is an ETF to short the S&P 500             that has been bullish there may be a gain coming up if it breaks the prior resistance level with an entry above 38.60 to 40 or possibly 41 depending on the severity of the pulback in the S&P 500             if it occurs.
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