Repelling Real Estate
Image Source: Unsplash
Below is the real estate fund symbol IYR. About a month ago, it was repelled beautifully by the two drawn objects: one, a major Fibonacci resistance level, and two, a long-term descending trendline. It has fallen hard since then, as God intended, and now it is even breaking the next Fib lower, suggesting the prospect of moving into an even lower range, which I’ve tinted.
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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit ...
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