SMH tests major resistance level
SMH has rallied nicely the past 2 days and now reached major downward resistance level again. This is a crucial area for SMH to break in order for more rallying to continue
Overall I am expecting a reversal to start forming around here. Figure on SMH testing the level before retracting back down to lower levels again.
- Resistance defined well during late August
- ETF now presses up against resistance again
- Volume declines as resistance is reached.
Overall I am expecting a reversal to start forming around here. Figure on SMH testing the level before retracting back down to lower levels again.
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