VanEck Semiconductor ETF
Short

SMH now testing outer boundaries

47
SMH experienced a significant rally and now showing signs of weakness and a potential reversal coming.

  • experienced a short lived false breakout back in Aug 22
  • We are now back in breakout zone again this time with more candles indicating more bulls coming in than last breakout
  • RSI is now trending flat as price continues to rise, signs of rsi divergence signaling reversal maybe coming


Overall SMH looks to be showing weakness in the rally and most likely turning around to sell off soon.

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