Our research team warned of a peak in the Financial Sector ETF on June 10, 2020, with this article.
It was important to understand the technical setup that existed at that time and what the Fibonacci Price Modeling system was showing then. There was very clear support near $23 that was highlighted by the Fibonacci Price Modeling System, and we were very clear in our future price predictions within that article.
"The $27 price peak sets up directly between our two Fibonacci Daily upside price target (Peak) levels. We believe this setup is a very strong indication that a move to below $23 may be setting up over the next 30+ days. The Q2 data may very well push investors to re-evaluate the potential for the Financial sector if delinquencies and at-risk borrowers continue to default in greater numbers."
The timing of our original article could not have been better for skilled technical traders. Since that June 10, 2020 article posted, the XLF price has fallen almost exactly to $23 (-10.15%).
Currently, the FLX price is recovering just above the price gap that will act as the next "window" for the price to attempt to fill. Skilled technical traders should watch Continue reading "Financial Sector ETF May Break Below Price Gap"