Dow Jones Utilities Rally Testing 2022 Highs – Pullback or Breakout Ahead?

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Dow Jones Utilities Rally Testing 2022 Highs – Pullback or Breakout Ahead?

Utilities (NYSE:) stocks have been surging higher this year.

Once thought of as a ************* hedge-like allocation for investors, Utilities have been performing like tech stocks of late.

Can this rally continue?

Today, we draw your attention to a long-term “monthly” price chart of the  to highlight a potential fork in the road.

As you can see, the Utes have been in a rising price channel (up-trend) for the past 15 years. You’ll also notice this year’s white-hot rally. But the recent rally has taken the Utilities back to the 2022 highs. And this looks like significant resistance.

Will be interesting to see how white-hot Utes handle 2022 highs. Pullback or breakout ahead? Stay tuned.

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#Dow #Jones #Utilities #Rally #Testing #Highs #Pullback #Breakout #Ahead

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