I drew two possible scenarios for XLU (Utility ETF).
Green scenario : a "fake" breakout of this triangle (happens often in Bear Markets) that sucks some anxious investors waiting to get long ... and then crushes them !
Red scenario : This one is more straightforward. A simple downtrend with a break to the downside !
In both cases XLU will go down tp $25 .. at least !!
Related ETF's : SDP (Ultra short Utilities). UPW (Ultra long Utilities)