themarketzone

Reached the 200 SMA line following my reversal setup

AMEX:XLF   SPDR SELECT SECTOR FUND - FINANCIAL
Not too long ago I posted a setup on $XLF involving 2 bearish harmonics.
Once the trend line was broken, it was no turning back for $XLF and the re-test of the broken trend line proved it by becoming resistance.
Now it found support on 200 SMA line.
Could bounce from here but longer term remains bearish
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