After the long down move the utilities sector has gone through, it looks like it could be ready to turn around. We might be a little early here but this is what we're seeing that is telling us that it's ready to make a move higher finally:
-When you look at the 4 hour chart you can see that the price is coming out of a squeeze higher to the upside
-When looking at the RSI which is an indicator that we like to use, you can see that there is a major bullish divergence
-There has been an increase in volume the last couple of days, which bodes well for a reversal
Again, we might be a little early here but if you're able to be patient with a trade in utilities we see this thing turning around and moving higher in the near future! We will see what happens in the next couple of days!
-When you look at the 4 hour chart you can see that the price is coming out of a squeeze higher to the upside
-When looking at the RSI which is an indicator that we like to use, you can see that there is a major bullish divergence
-There has been an increase in volume the last couple of days, which bodes well for a reversal
Again, we might be a little early here but if you're able to be patient with a trade in utilities we see this thing turning around and moving higher in the near future! We will see what happens in the next couple of days!
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