AMEX:XLB   Materials Select Sector SPDR
Using Donchian Channel boundaries for stop loss and entries. The trajectory still appears to be downward, but the lower channel boundary is the level of the recent March 2 opening candle shadow (inventory reversal) - usually when it goes lower than this level, it's a strong entry, provided the indicators aren't too oversold.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.