XLU $44.57: Consolidates after falling wedge breakout; Remains n
XLU rallied off the 43.02/43.09 minor double bottom to reach 45.63 (March 19. 2015 high) before consolidating. As the indicators are mixed, XLU is expected to remain range-bound near term. Clearing the 45.63 range resistance is needed to turn bullish and confirm basing for a move towards 46.59 initially. Back below 44.02 (March 18, 2015 low) would signal a retest on the 43.02/43.09 recent range support zone.
Outlook:
Outlook:
