XLU / S+P Utilities SPDR ; Potential Bearish Reversal
and reentered the prior price area after breaking above it on the 2 Hour Chart in recent days.
Price should not have done that.
The implications are , leaving behind
what appears to be a Head, in a H+S Reversal Pattern. Too early to tell.
In order to reestablish its prior chart pattern, price MUST rise above the 7/6 High of 53.29
Failure to do so, would only enhance the implications of the 8/8 OPEN.
Daily is still above 50, so there is still time to do that.