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.
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| 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.
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| click chart to enlarge |
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Financial Disclosure:
The author/publisher has no position in XLU at the time this article was written.
Financial Disclosure:
The author/publisher has no position in XLU at the time this article was written.
Base Chart Provided Courtesy of StockCharts.com. Analysis and Annotation by JunkBond Recycling.com (all rights reserved)
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