XLI Breakout with $130 Target
XLI tends to have big sloppy consolidation trends over 3 year periods
Then it breaks out for 20 point moves higher
XLI recently broke out above $111 August highs, retested, and continued higher
Chart has ridden 9dma higher since early Nov
RSI stretched short term
Would like to see consolidation here at highs before next leg up
Measured move takes XLI to $130 in 2024
*thx @shaneaus for measuredmove script
XLI tends to have big sloppy consolidation trends over 3 year periods
Then it breaks out for 20 point moves higher
XLI recently broke out above $111 August highs, retested, and continued higher
Chart has ridden 9dma higher since early Nov
RSI stretched short term
Would like to see consolidation here at highs before next leg up
Measured move takes XLI to $130 in 2024
*thx @shaneaus for measuredmove script