One area investors and traders should take a look at is the Aerospace and Defense industry ($XAR as proxy), which is currently the best performing industry year-to-date (as of July 5th), generating 28.59%.
On a technical basis, $XAR is trading above all three EMAs, indicating strong price action at the moment. Further, its RSI as been steadily trending higher since the end of June, indicating strong market sentiment in this industry. Further, on a global macro basis, the industry has been helped by a rise in geopolitical tensions around the globe, with the most recent being tensions in the Middle East between Iran and Western powers.
If this trend continues, $XAR could hit $107.81 in a few weeks.
On a technical basis, $XAR is trading above all three EMAs, indicating strong price action at the moment. Further, its RSI as been steadily trending higher since the end of June, indicating strong market sentiment in this industry. Further, on a global macro basis, the industry has been helped by a rise in geopolitical tensions around the globe, with the most recent being tensions in the Middle East between Iran and Western powers.
If this trend continues, $XAR could hit $107.81 in a few weeks.