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For today's chart we've chosen to take a look at XMSR because it is trading near an influential descending trendline. As you can see from the chart below, the sloping trendline has acted as an area of resistance in the past and it will be interesting to see if this dotted trendline will prevent the price from heading any higher. Many traders will use several consecutive closes above the trendline as confirmation that the downtrend may be weakening/reversing.


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