Jan. 16 at 11:15 PM
$FAZ : The 3 x short
$XLF etf as been forming a descending wedge pattern since its peak in April. Throughout the downward movement, both trend lines have been tested multiple times, confirming the validity of the wedge formation. Currently, we are at the peak of this pattern, leaving very little room for price movement. A breakout to the upside could potentially trigger a retracement of the decline that began from the April high.