Semiconductors (SMH) Trading At Important Price Resistance Level!

With financial markets acting all kinds of crazy volatile lately, I thought it would be good timing to revisit a ‘once upon a time’ market leader.

The Semiconductors.

Today’s chart 2-pack provides a look at the Semiconductors ETF (SMH) on a “weekly” and “monthly” time frame.

We highlighted the Semiconductors several times during the bear market. As you can see below, this market leader broke below 15-month price support at (1) and it is now nearing the underside of it at (2).

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If the Semis cannot recover this level, it will likely lead to more sideways to lower price movement.

This is a BIG test of “new resistance” for this market leader. What happens next will likely impact the broader market. Stay tuned!

Semiconductors ETF (SMH) “weekly” & “monthly” Chart

smh semiconductors etf trading price resistance important chart july

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