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jangseohee
Jan 8, 2015 1:37 PM

XLB, symmetrical triangle 

Materials Select Sector SPDRArca

Description

After XLB broke the uptrend channel in early Oct, price has been engaged in symmetrical triangle consolidation pattern.
A break down would be for the bears while an upper breakout could see price re-test the undercut of uptrend channel.

I have a hunch that it is going to be red channel moving ahead.

P.S. I noticed one false breakout above the upper triangle line into the channel but failed terribly.
Comments
jangseohee
2nd break out attempt
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