In last two days streetTRACKS Dow Jones Wilshire REIT Fund (RWR) has showed signs of strengthening following a two month retracement of the larger trend.
RWR has now broken through the down trend line of the retracement and closed above it for two days. Minor resistance is now at $45.73, the high from two days ago. One caveat is that volume was unusually low for each of the past two days.
If RWR can move through $45.73 with momentum it would signal a likely move higher. Then we need to see a break through the high of October 26, $46.17, to show continuation of strength, as it would have then cleared its retracement pattern. A move through yesterday’s low of $44.68 would signal short term weakening.
RWR ETF Trend Continuation
