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novvoll12

XLB 50.15: 4-month triangle top breakdown drives lower

Short
Materials Select Sector SPDR (AMEX:XLB)  
novvoll12  
AMEX:XLB   Materials Select Sector SPDR
XLB
0
0
xlb
XLB broke below the 8-month rising trendline support to reinforce the triangle top breakdown. The next support rests at 49.80 (June 9, 2015) and then 49.45 (200 day moving average). Below there would open 48.39 (March 26, 2015). It would take strength back above 50.60 (June 11, 2015) to stabilize and lift for 51.78 (May 8, 2015) near the triangle top resistance zone.
Outlook:
Short term: bearish
Long term: bearish
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