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

• The fifth wave is currently active, with aminimum target of $54.07.

• We are inwave (iii) of [v], the most powerful phase of the impulse.

• This rally is expected tobreak above the wave [iii] high.

• 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

• Wave (ii) ended at$48.58, reducing the probability of a complex correction – a bullish sign.

• The current move marks theearly stages of wave (iii), a prime setup for buyers.

• Anytime now is a potential buying opportunity.

• Key confirmation level:$50.91 – ideal for conservative entries.

• Critical support:$49.50.

• Invalidation Level:$48.58 – must hold to maintain bullish outlook.

Conclusion

• The ongoingXLF rallyaligns with a fifth wave impulse.

• The setup offers astrong long opportunityfor ETF-focused traders.

• The rally is projected toexceed the previous wave [iii] high, aiming for aminimum of $54.07.

• Maintaining strict adherence to Elliott Wave principles andmonitoring invalidation levelsis essential to reduce risk.

Technical Analyst:Siinom.

SPDR Select Sector Fund ETF – XLF(1D) Elliott Wave technical analysis [Video]