mych36

XBI Possible Triangle Forming

AMEX:XBI   SPDR Series Trust SPDR S&P Biotech ETF
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XBI had a failed attempt to move higher a couple weeks ago and didn't fall back down to the previous low level. This suggests to me a possible triangle formation forming. I will be looking to short if it can get back up to the 71 level and have buyers fail to drive the price higher.