Bullish Health Care Select Sector SPDR Fund peaks above key resistance at $125.48 but retreats 17 cents later in the session

• Price action backs away from resistance at $125.48 despite bullish mood
• Bullish streak halted at key Fibonacci level of $126.96

Health Care Select Sector SPDR Fund ended Friday at $124.15. today it went up to $127 only to drop back, yet still managed to close at $125.31.

All in all, the fund has been on a negative trend for around 2 months. Health Care Select Sector SPDR Fund has shed 10.97% over the past three months.

Health Care Select Sector SPDR Fund made an initial breakout above its 5 day Simple Moving Average at $126.34, a potential indicator of a newly emerging bullish phase. Health Care Select Sector SPDR Fund's lower Bollinger Band® is at $123.63, indicating that the market is oversold and fertile for new buyers. Despite this, although Health Care Select Sector SPDR Fund is appreciating today after rising as high as $127, price action is now slowing and consolidating around 17 cents below the $125.48 resistance level.

Overall, looking at the technical analysis landscape, it seems Health Care Select Sector SPDR Fund likely to continue pointing upward in the short term.

Fundamental indicators – United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.

At the same time, after ending today's session at $41.36, Wells Fargo & Company lost $2.95 and is trading around $38.41. Bank of America lost 5.81% today and closed at $30.27. American Express is down to $157.63, losing $8.07, after ending the previous session around $165.7.

Upcoming fundamentals: United States Consumer Price Index is expected tomorrow at 12:30 UTC.