Possible short setup XLB
Hey y'all,
On XLB, there is little to suggest that we aren't going to have a counter-trend rally in July. That being said, there are even fewer things suggesting that said rally would not be faded, though predicting where exactly the rally will be faded is an incredibly difficult task. If it somehow manages to push its way up to 82/share, I think it would be an incredible short, though I think it may only make it to around $80. Good luck with your trading!
On XLB, there is little to suggest that we aren't going to have a counter-trend rally in July. That being said, there are even fewer things suggesting that said rally would not be faded, though predicting where exactly the rally will be faded is an incredibly difficult task. If it somehow manages to push its way up to 82/share, I think it would be an incredible short, though I think it may only make it to around $80. Good luck with your trading!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.