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VanEck Semiconductor ETF

SMH held its ground above key support level

ratchet-mint tarafından
Today was an important day for semi conductors. In order to solidify a bullish pivot it needed to remain above a key support level.

  • SMH held above key support
  • lack luster moves across the market indicated indecision and caution amongst traders about the future being bullish or bearish
  • This could mark the sign of a turn around to the upside longer term
  • considering the recent rally and today's modest moves, this could be the distribution phase of the rally cycle which would mark a small pullback in the coming days
Economic CyclesSMHSupport and ResistanceTrend Lines
ratchet-mint

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