$XLRE - SAFE HAVEN -
Added 2024-01-06 20:25:57 +0000 UTCReal Estate Sector ETF.
Wedge break out here in November and has been moving very well, tested the blue line at $40.40 but has so far rejected, along with the market pull back,
What I would like to see here is a pull back to the 0.618 Fib at $35.35.
A pull back here in line with rate cuts, could help the sector over the next 18 months then.
The 50 and 200 DAY MA are also at the 0.5 Fib at $36.40, so this confluence level may offer a strong support level.
Either way, a pull back here first and holding and the targets above could be next.
