Banking Sector, Jailbreak

The bank sector, XLF, is attempting to breakout above resistance.

Fotosearch_k3712001-borderA failure here, indicates a pivot to lower, possibly much lower levels.

This chart (6/2/20, update) shows the current situation.

The market has just opened and XLF is hovering near its recent highs.

An XLF move below the prior day’s low of 23.34, means a possible failure; the beginning of the next leg down.

As just reported here, there’s no recovery in sight.

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