Has DOW Utilities finished its down trend since January?
DOWU has been in a down trend since January of this year. The top in January was 657 and on March we found a bottom at 565.55. The drop of 14% was result of a 25.65% up trend that started in July of 2014 up by 174 days.
With bond yields going up there could be room for a drop to 560. RSI is showing that the index is taking a breath from this 42 days drop since the begging of this cycle.
If the index surpasses 600.35 resistance there is room to go up to the 607 and 609 resistances.
If the index breaks the support at 565.55 there is room to go down to the 560 and 552.67 supports
With bond yields going up there could be room for a drop to 560. RSI is showing that the index is taking a breath from this 42 days drop since the begging of this cycle.
If the index surpasses 600.35 resistance there is room to go up to the 607 and 609 resistances.
If the index breaks the support at 565.55 there is room to go down to the 560 and 552.67 supports