Saturday, August 22, 2015

Utility ETF (XLU) Turned Back at Resistance on Daily Chart (updated)

Update (8/24/15):
XLU has also failed to hold its breakout above falling resistance as shown on daily closing price chart below.  Next support line on chart is at about $41.75.

click chart to enlarge

Original Post:
Utilities Select Sector SPDR ETF (XLU) has been showing relative strength but was recently turned back at resistance on the daily chart after breaking up out of a rising wedge and falling overhead resistance as shown on the chart below.

click chart to enlarge

Not Investment Advice | Important Disclaimer: 
The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers  for in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher has no position in XLU at the time this article was written.

Base Chart Provided Courtesy of  Analysis and Annotation by JunkBond (all rights reserved)

No comments:

Post a Comment