Screenshot-2020-09-15-at-9.07.16-AM-300x176 ZYTrade Technical Snapshot - Regional Banks (KRE)

While the Financial sector’s year-to-date performance of -19% stands at second worst (the worst being Energy), the regional bank industry (KRE) appears to have broken below its tepid uptrend line [1] on relatively high selling volume [2]. The closest support level may be found at [3] near 33.50.  Meanwhile, the dollar index (DX) is expected to trend lower toward the 90.95 level, unable to gain enough momentum to break above its August high of 94.00.

 

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