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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 a minimum target of $54.07. We are in wave (iii) of [v], the most powerful phase of the impulse. This rally is expected to break 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 the early 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 ongoing XLF rally aligns with a fifth wave impulse. The setup offers a strong long opportunity for ETF-focused traders. The rally is projected to exceed the previous wave [iii] high, aiming for a minimum of $54.07. 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] Source: https://www.fxstreet.com/news/xlf-elliott-wave-technical-analysis-video-202504031157

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Filed under: News - @ April 3, 2025 1:25 pm