XLF Elliott Wave technical analysis [Video]
|SPDR Select Sector Fund ETF – XLF (1D) Elliott Wave technical analysis
Function: Major Trend.
Mode: Motive.
Structure: Impulse Wave.
Position: Wave [v] navy.
Direction: Uptrend.
Daily chart insights
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The fifth wave is currently active, with a minimum target of $54.07.
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We are in wave (iii) of [v], the most powerful phase of the impulse.
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This rally is expected to break above the wave [iii] high.
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Invalidation Level: $48.58 – breaching this level challenges the wave structure.
SPDR Select Sector Fund ETF – XLF (4H) Elliott Wave Technical Analysis – 4-Hour Chart
Function: Major Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (iii) orange.
Direction: Uptrend.
Four-hour chart insights
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Wave (ii) ended at $48.58, reducing the probability of a complex correction – a bullish sign.
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The current move marks the early stages of wave (iii), a prime setup for buyers.
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Anytime now is a potential buying opportunity.
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Key confirmation level: $50.91 – ideal for conservative entries.
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Critical support: $49.50.
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Invalidation Level: $48.58 – must hold to maintain bullish outlook.
Conclusion
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The ongoing XLF rally aligns with a fifth wave impulse.
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The setup offers a strong long opportunity for ETF-focused traders.
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The rally is projected to exceed the previous wave [iii] high, aiming for a minimum of $54.07.
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Maintaining strict adherence to Elliott Wave principles and monitoring invalidation levels is essential to reduce risk.
Technical Analyst: Siinom.
SPDR Select Sector Fund ETF – XLF (1D) Elliott Wave technical analysis [Video]
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