Courtesy of Chris Kimble
Are Banks going to end the month with a large bearish pattern just below dual resistance? Possible, yet the month is far from over!
This chart looks at the Bank Index (BKX) on a monthly basis.
The rally this month took it up to test its 61% retracement level and old support as new resistance at (1). Upon hitting this level, a large reversal could be taking place at (2).
Joe Friday Just The Facts Ma’am; Where the bank index ends the month, could send a very important message to the broad markets.
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