The Utes looking like they might be ready to go!
After the long down move the utilities sector has gone through, it looks like it could be ready to turn around. We might be a little early here but this is what we're seeing that is telling us that it's ready to make a move higher finally:
-When you look at the 4 hour chart you can see that the price is coming out of a squeeze higher to the upside
-When looking at the RSI which is an indicator that we like to use, you can see that there is a major bullish divergence
-There has been an increase in volume the last couple of days, which bodes well for a reversal
Again, we might be a little early here but if you're able to be patient with a trade in utilities we see this thing turning around and moving higher in the near future! We will see what happens in the next couple of days!
-When you look at the 4 hour chart you can see that the price is coming out of a squeeze higher to the upside
-When looking at the RSI which is an indicator that we like to use, you can see that there is a major bullish divergence
-There has been an increase in volume the last couple of days, which bodes well for a reversal
Again, we might be a little early here but if you're able to be patient with a trade in utilities we see this thing turning around and moving higher in the near future! We will see what happens in the next couple of days!
Related publications
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.