XLV fell from the 77.40 record high (July 20, 2015) to threaten 7-month rising wedge support and the 50 day moving average currently at 74.26 which is also near the 73.86 range low (July 8, 2015). While the 74.26/73.86 support zone holds the dips, that suggests the uptrend remains, offering scope for returned strength towards 76.05 (July 24, 2015 high-gap low). Further gains above there would shift the focus to 77.40 again. Only a sustained break below 73.86 would caution bulls and risk a retest of key support at 71.33 (April 30, 2015).
Outlook:
Short term: neutral
Long term: bullish
Outlook:
Short term: neutral
Long term: bullish
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.