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XLU: Where Utilities Could Go from Here

Vincent Kruger
XLU: Where Utilities Could Go from Here

Currently, the Utilities Select Sector SPDR ETF (XLU) is trading at $53.5—nearly 1% and 4% above its 50-day and 200-day moving average levels, respectively. These simple moving averages showed a “golden cross” pattern early this month and continue to look strong. The levels around $52.83 and $51.33 could likely act as a support for XLU in the short term.