XLU, past trendline still have effects
First, i would like to apologize for this seemingly uninteresting but informative chart.
Since 2009 bottom, XLU has been engaged in current 35 degree accelerated uptrend channel
When i extend important past swing points, these lines still exert certain effects when it comes to support and resistances.
What particularly catch my eye is: 3 of the red lines converge to a purple region, hence i suspect that 44-45 would be the important support if retracement does happen.
The euphoric price that will compel me to short would be 52-57 if it is capable of reaching there FAST enough
Since 2009 bottom, XLU has been engaged in current 35 degree accelerated uptrend channel
When i extend important past swing points, these lines still exert certain effects when it comes to support and resistances.
What particularly catch my eye is: 3 of the red lines converge to a purple region, hence i suspect that 44-45 would be the important support if retracement does happen.
The euphoric price that will compel me to short would be 52-57 if it is capable of reaching there FAST enough
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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.
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.