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XLU: Why Utilities Continue to Look Strong

Vincent Kruger
XLU: Why Utilities Continue to Look Strong

The Utilities Select Sector SPDR ETF (XLU), which is currently at $54.52, is trading 5% above its 50-day and 6% above its 200-day moving averages. The fair premium to both these support levels indicates strength in XLU. These moving averages of $52.04 and $51.45, respectively, are expected to act as a support for XLU in the near future.