• 270 days Could Crypto Overtake Traditional Investment?
  • 275 days Americans Still Quitting Jobs At Record Pace
  • 277 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 280 days Is The Dollar Too Strong?
  • 280 days Big Tech Disappoints Investors on Earnings Calls
  • 281 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 283 days China Is Quietly Trying To Distance Itself From Russia
  • 283 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 287 days Crypto Investors Won Big In 2021
  • 287 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 288 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 290 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 291 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 294 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 295 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 295 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 297 days Are NFTs About To Take Over Gaming?
  • 298 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 301 days What’s Causing Inflation In The United States?
  • 302 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

BKX Close to First Resistance

As you know, the economy and a strong Banking system go together.

Today, we posted the updated Banking Index chart of the $BKX.

When you look at the chart, look at the pricing bars and note how the daily price bars made a lower/high in November-December of 2015 and then a lower/low in January-February of this year.

And then, this June and July, the Banking Index made a higher/high (relative to its May 25th. 2016 high) and has risen above its down trending channel which is a positive.

In order to have a nice new up trend, the Banking Index has three important levels to move past: They are approximately at 71.53, and then 77.14 and 80.87. 

Yesterday the Banking Index closed at 71.30 so it was about three tenths of one percent away from is first resistance point.

BKX Daily Chart

 

Back to homepage

Leave a comment

Leave a comment