Daily Chart Report
XLP looks like it is forming a bull flag. If it breaks out to the upside then the first price target would be the ATH resistance level. If it breaks down then you will find support around the 73 level. If you see the indicator below the two lines are compressing. A compression always leads to an expansion. A big move is in the cards next week. I also want to note that XLP is a defensive sector so it tends to outperform in a choppy market.
XLP looks like it is forming a bull flag. If it breaks out to the upside then the first price target would be the ATH resistance level. If it breaks down then you will find support around the 73 level. If you see the indicator below the two lines are compressing. A compression always leads to an expansion. A big move is in the cards next week. I also want to note that XLP is a defensive sector so it tends to outperform in a choppy market.