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