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SPDR Select Sector Fund - Consumer Discretionary

$XLY 4H timeframe (uptrend)

Oleh AquilaTrading
XLY
4H timeframe

  • Uptrend channel (retracing 28th December 2022 lows & 2d February highs)
    valid as long as it can hold 143.85$, loss of 146.46 is a big warning.
  • In order to spot the potential next targets, I retraced 1st December 2022 highs to 28th December 2022 lows and generated Fibonacci extensions (same principle as for channels). this is the logical retracement I decided to rely on and this is the next logical path: 0>1>1.272 or 1.618> 1.272 or 1 bounce on any of these ones is the confirmation for more upside.
    valid as long as it can hold 147.32$ or reclaim it really quick (one or max 2 sessions)
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