Bat pattern completed
The Bat pattern I've mentioned in the past for $XLU was completed last week.
As you can see there was minor bearish reaction to my harmonic sell zone.
$XLU is very close to 50$ so we may see it try to touch this psychological level.. that's usually what happens.
The bearish scenario for $XLU requires a stop loss above 50.5$ with nice R/R as I aim for 47$ as my first daily target zone and 45$ as secondary
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
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As you can see there was minor bearish reaction to my harmonic sell zone.
$XLU is very close to 50$ so we may see it try to touch this psychological level.. that's usually what happens.
The bearish scenario for $XLU requires a stop loss above 50.5$ with nice R/R as I aim for 47$ as my first daily target zone and 45$ as secondary
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl/c8og8B
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
Comment:
Pay attention - Second option to short $XLU after target was already reached and it bounced back up to the PRZ
