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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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.