XLP: Parabolic Channel vs. S/R

٢١ نوفمبر ٢٠٢٢

Price has broken a long term negative trend line on both the 4h and 1D as well as holding firm above the 200sma. Recent price is pretty parabolic in a ~60 degree up channel. MACD and RSI holding steady but seem to be losing steam. If opening bell shows positive movement (breaking previous resistance)XLP, expect a short term uptrend before challenging previous swing high levels.