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XLB tagging Intermediate Support

Materials Select Sector SPDR (BATS:XLB)  
Trading-Capital  
BATS:XLB   Materials Select Sector SPDR
Trend Analysis Chart Patterns XLB SPDR S&P 500 ETF (SPY) inflation
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trendanalysis chartpattern xlb spy inflation
Materials Sector is getting oversold on the daily chart and tagging a key daily upsloping trend line.

A technical bounce is favoured at this level, however there is a weekly support level lower that is much stronger if this were to sell off more.

This bounce may only last a few days unless the indices firm up.
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