Dow Jones Utilities Rally Testing 2022 Highs, Cool Off Level Again?

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Utilities stocks have been surging higher this year.Once thought of as a conservative 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? More By This Author:S&P 500 Bearish Divergence With Junk Bonds Largest Of Year More Treasury Bonds Selling Ahead? Watch The Japanese YenGold Bugs Index Testing Long-Term Breakout Level