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Biotech Sector Symmetrical Triangle Patterns

The next major leg up or down in the biotech sector is likely to be determined by the direction in which these symmetrical triangle patterns break (120-minute charts of IBB & XBI). While I favor a downside resolution, an upside break would likely bring IBB to around the 360 level, about 9 ½% above the current price.

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Nov 10, 2015 10:52am|Categories: Completed Trades - Short, Equity Market Analysis|Tags: , , |Comments Off on Biotech Sector Symmetrical Triangle Patterns