US Consumer Staples Sector: Trend Reversal Imminent
The primary uptrend is coming to end; divergence and slacking indicators all point to consolidation at a minimum and probably a trend reversal. Exit-long is the least investors should consider. Depending on developments around the 53.05-area investors can also study potential shorts within the sector or short the sector as a whole.
Down side potential is decent: 50.40 and 48.70 form the first pivots and projection respectively.
Down side potential is decent: 50.40 and 48.70 form the first pivots and projection respectively.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.