Bank Index Finally Wakening

H. Arnarson
H. Arnarson • by Hallsteinn Amarson
Global Financial Markets Adviser and Strategist •

The Index has formed a potential bearish-to-bullish reversal pattern.

The Bank Index (BKX) has been lagging the financial sector index but has now formed a potential bearish-to-bullish reversal pattern (inverse head and shoulder, cup and handle). A convincing break above 110.6 would confirm that.

 

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