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European Banks Break Support! Ripple Effect in Markets?

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Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Are European banks in trouble? If so, could weakness in the European financial sector spill over into stock markets around the world?

European Financial ETF EUFN has formed a bearish rising wedge over the past few months and a few days ago broke below support in the chart above.

Could this put downward pressure on risk assets and push up metals? Yesterday I shared this “could put a big smile on gold bugs’ faces!” (more here). So far today, this spread is skyrocketing!

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For information about Kimble Charting Solutions, send an email to services@kimblechartingsolutions.com.

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