Utilities Staging a Come-back

29 gen 2018

Utilities have taken a major hit in the risk-on market environment we've seen lately. Last week XLU completed a perfect 61.8% retracement of recent gains and showed a strong bounce at that key support level. I think we have an excellent buy for a swing trade at this level with a view to hold patiently for 1-3 months and take profit at all time highs.