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XLU: What Do Utilities’ Chart Indicators Currently Suggest?

Vincent Kruger
XLU: What Do Utilities’ Chart Indicators Currently Suggest?

Utilities (IDU) (VPU) at large have rallied more than 7% since the Fed delivered its third rate hike in 2018 in September. The Utilities Select Sector SPDR ETF (XLU) is trading at $54.87—more than 2% and 6% above its 50-day and 200-day moving average levels, respectively. The premium to the support levels indicates strength in XLU. These moving average levels close to $53.70 and $51.58 could act as a support for XLU going forward.