XLF - Looking Very Weak
Financials charts have completely been rejected by the downscoping trend line.
A weekly bear flag looks like it's about to trigger and send price action much lower.
Since the daily chart is getting oversold, waiting for bearish consolidation is a wise decision if you are wanting to short.
With the rise in yields recently, it's clear the Banks net interest margins are being squeezed. Will we see another banking crisis?
The last time we saw the XLF close below the weekly 50MA, we saw a quick 10% drop.
A weekly bear flag looks like it's about to trigger and send price action much lower.
Since the daily chart is getting oversold, waiting for bearish consolidation is a wise decision if you are wanting to short.
With the rise in yields recently, it's clear the Banks net interest margins are being squeezed. Will we see another banking crisis?
The last time we saw the XLF close below the weekly 50MA, we saw a quick 10% drop.
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