SOXX daily Bearish Divergence with a false break out
SOXX is currently breaking out of its triangle formation, which would theoretically be bullish, but unless it retests the top of the triangle as support and bounces, this is a false break out. There is a gap to fill, so we have room to at least test that support line. But most importantly, the RSI is not confirming the new high showing that this is most likely a false breakout. False breakouts have quick and hard reversals.
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