XLU Could Be Headed Lower
Pressing on support with two major bars opening on their high and closing on there low. XLU is showing weakness after a double top bull leg in a larger bear trend. You might have to reread that a couple of time. There is also towards of pent up energy and momentum to the downside and an Anti formed on the MACD. Not a classic anti but, I think it is a great spot to form and helps the bear case here.
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Get more in-depth analysis on my website: joerodtrades.com
Get Funded: apextraderfunding.com/member/aff/go/jrod730
Get Funded: apextraderfunding.com/member/aff/go/jrod730
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.