Technical Pulse: Utilities select sector SPDR Fund November 16, 2021 177

XLU Utilities ETF (US: XLU) technicals indicate further upside after our report dated 20th September has successfully rebound from the said support zone at US$62.86-US$63.70. We believe there is further upside:


  1. The formation of the cup and handle formation has inched closer to a complete pattern after a bullish gap was observed breaking the bullish flag/handle.
  2. The above mentioned bullish candle has also gapped above the Tenkan-Sen. Giving an additional boost to the bullish upside.
  3. Ichimoku wave theory indicates that there will be one more “N” wave for the next 19 periods after the 1st “N” wave has completed the 9-period day of change and 17-periods day of change for the 2nd “N” wave.



*Expected timeline of the trade is 15 weeks from the date of report issuance.

*US$68.00 resistance level remains crucial. Should it fail to break after 4 consecutive periods, the bullish call on this report will be invalidated.


For more Technical Reports please visit:




Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Blackline = 26 periods Chikou Span. Lagging line


Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!