Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Regional banks testing bull flag breakout level

Courtesy of ZeroHedge. View original post here.

Assets in rising trends often create what is called a “Bullish Flag” pattern. Below looks at the price pattern of Regional Banks ETF (KRE) over the past decade and highlights that a bull flag pattern could be in play.

regional bank etf KRE

CLICK ON CHART TO ENLARGE

Earlier this year, KRE broke above 2007 high levels. After breaking out, softness over the past few months saw KRE test 2007 high resistance levels as new support a few times at (1). While testing this support, potential that KRE has created a bull flag pattern over the past few months.

KRE short-term rally of late finds it testing falling resistance at (2), which could be the top of a bull flag pattern.

If KRE breaks out at (2) and climbs above old highs at the $58 zone, it could attract buyers on a breakout. Am important breakout test is in play for KRE this week at (2). Bank Index (BKX) is testing an important breakout level as well. What KRE and BKX does in the next couple of weeks, could be very impactful for the banking industry and broad market overall.

The Power of the Pattern at work to save people time, improve decision-making & results.   

We identify high probability big pattern reversals and breakouts in global indices, sectors, commodities, several metals and select individual stocks

Send us an email if you would like to see sample reports or a trial period to test drive our Premium or Weekly Research

Receive Chris Kimble's research by email posted to his blog daily  https://kimblechartingsolutions.com/newsletter-preferences/

Email services@kimblechartingsolutions.com 

Call us Toll free 877-721-7217 international 714-941-9381

Website: KIMBLECHARTINGSOLUTIONS.COM


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!