Semiconductor Sector in Danger or Ready for a Sharp Rebound? 🚨💻
SOXLB (Semicon Bull 3X ETF) appears to have broken down again below the 95.38 range on the 1h timeframe, after briefly attempting a bounce.
All indicators (EMA 7, 25, 99 & MACD) show that selling pressure is still firmly in control. The nearest support level is around 86.37.
Remember, 3X leveraged products like this are extremely volatile!
What do you think:
🔴 Still likely to break down and hit a new bottom below 86
🟢 The consolidation zone is a good place to start scaling into a rebound
Comment your pick below: 🔴 or 🟢! 👇
SOXLB (Semicon Bull 3X ETF) appears to have broken down again below the 95.38 range on the 1h timeframe, after briefly attempting a bounce.
All indicators (EMA 7, 25, 99 & MACD) show that selling pressure is still firmly in control. The nearest support level is around 86.37.
Remember, 3X leveraged products like this are extremely volatile!
What do you think:
🔴 Still likely to break down and hit a new bottom below 86
🟢 The consolidation zone is a good place to start scaling into a rebound
Comment your pick below: 🔴 or 🟢! 👇