The Real Estate Select Sector SPDR (XLRE) reached a new All Time High today extending the aggressive bullish run since the start of the year. The candle pattern is very similar to the February - August 2016 when it made a peak after a +28.60% rise and declined below the MA200 with a first stop at -9%. The current price action appears to be following this pattern and is close to completing both the +28.60% rise parameter and the 175 day duration parameter. We are taking a short aiming at repeating the -9% initial decline (34.50) towards the MA200.
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.