XXJ ASX 200 Financials.

A short term, daily chart outlook of XXJ ( ASX 200 Financials EX. REITs) : If one pops their Bollinger Bands on the daily chart of XXJ they could clearly see how this sector is subjected to short term profit taking  as the price action hugs/cuddles the upper Bollinger band, becoming overbought ( see last couple and current off the lowest low on the chart). There are quite a few  mechanical systems built around the bands where the overbought and oversold conditions are determined by the bands in conjunction with the price. Therefore worth knowing/learning the bands. 

I treat the Bollinger Bands as an active version of  a trend channel with a mean in the middle.

XXJ Daily chart below.

xxjdaily22072017

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