The Utilities Select Sector SPDR Fund (XLU, Financial) is currently navigating through significant technical levels, with pivot points calculated using the DeMark method. The identified Pivot High stands at $76.72, while the Pivot Low is marked at $74.24.
Traders often interpret movements beyond these pivot points as directional signals. A price increase breaking past the Pivot High at $76.72 could be seen as a bullish indicator, suggesting potential upward momentum for XLU. Conversely, a decline dipping below the Pivot Low of $74.24 might suggest a bearish trend, indicating possible downward pressure on the fund's value.
Investors and analysts are closely watching these levels to gauge future price actions and adjust their strategies accordingly.
