XLF – Financial Select Sector SPDR ETF

This is a 20 year monthly candlestick chart to focus on the long-term trend for the financial sector at the moment. It seems as if a move towards the lower support area is in progress after the announcement of a possible slow-down of rate increases by the Fed. The share price for XLF currently sits at the bottom of the top support area.

Shares below the $20 price level will carry a better risk to reward ratio. Time to start monitoring it better when it reaches its main supporting trendline since March 2009.