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Following up on TAN's Bull Run

Last month, we saw Guggenheim Solar ETF (TAN) break above a consolidation structure, establishing a price bottom. This opened up the 25.00 resistance. So far, price has extended just above 21.00, but we might see some consolidation.

Guggenheim Solar ETF (TAN) Daily Chart

(click to enlarge)

Bullish Breakout Stalled:
- The daily chart shows how price has extended higher after a break above the consolidation price action from November to June. 
- While there is still upside towards 25, it would not be surprising that price retreats as it has stalled at 21.50 since last week. 
- If price retreats, the 20.00 area might turn into support. 
- Looks like 2017 could be the year the solar industry makes a come back.