HYG - Next Hurdle on Weekly Chart at $86.50?

As the red line on HYG's weekly closing price chart below shows, the next possible resistance line appears to be at about the $86.50/share price level.  

This line has intermittently acted as support and resistance since 2009.

A rally up to this resistance line may also bring HYG's RSI up to near 50 (upper part of chart), which is a level that has not been significantly exceeded since June 2014 when the market turned substantially "bearish" for U.S. corporate high yield bonds.

click chart to enlarge

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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 junkbondrecycling.com in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher is long corporate high yield bond funds at the time this article was written. This position may change depending on future price action.

Base Chart Provided Courtesy of StockCharts.com.  Analysis and Annotation by JunkBond Recycling.com (all rights reserved)