pseng88
Long

$xlu continuation patterns across the board!

AMEX:XLU   SELECT SECTOR SPDR TRUST AMEX UTILITIES SELECT INDEX
-higher time frame showing healthy pullback in defined uptrend finding support at 53.3x area
-mid time frame shows range bound action after a quick downtrend/ signs of accumulation are seen in range bound equilibrium
-momentum is strengthening upward along with volume pressure
-spring candle/pinbar found on mid time frame finding quick support at 53.3x area shows buyers conviction
multiple retests of resistance area 53.6x area shows weakness and high probability of breaking out
lower time frame supports previously mentioned idea with price action making higher lows and higher highs into resistance showing buyers conviction with rising rsi
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