Daily chart - been shorting since May. Rallies failing
below stops and consistently further below 50dma indicate downtrend
intact. 2 hr chart - rally from 58.74 formed continuation
triangle; unless it can hit most recent stop, triangle breakdown
would confirm daily chart and target the measured move to a new
low.
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XLE daily, 2-hr
Posted by rang00n on 11th of Sep 2015 at 03:49 pm
Daily chart - been shorting since May. Rallies failing below stops and consistently further below 50dma indicate downtrend intact. 2 hr chart - rally from 58.74 formed continuation triangle; unless it can hit most recent stop, triangle breakdown would confirm daily chart and target the measured move to a new low.