XLC - COMMUNICATIONS
XLC has and is still one of the strongest sectors.
this is still one of the most skewed ETF's with META's absurd weighting but nonetheless this pattern is still consolidating on the weekly chart.
There is a lower weekly high we have to monitor right at the top of the resistance channel but with if earnings guidance and revisions are met expect the likes of Google and Meta to lift this to the upside target of $74.
Watching weekly close below $64.50 for a bearish setup.
The technical weekly uptrend remains strong but a daily trend has weakened and needs to be monitored for potential accumulation or additional distribution.
this is still one of the most skewed ETF's with META's absurd weighting but nonetheless this pattern is still consolidating on the weekly chart.
There is a lower weekly high we have to monitor right at the top of the resistance channel but with if earnings guidance and revisions are met expect the likes of Google and Meta to lift this to the upside target of $74.
Watching weekly close below $64.50 for a bearish setup.
The technical weekly uptrend remains strong but a daily trend has weakened and needs to be monitored for potential accumulation or additional distribution.