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ZYTrade Technical Snapshot - Regional Banks (KRE)


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While the Financial sectors 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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About the author


Karl Montevirgen is an independent content writer. Having been involved in the commodities and FX markets for the last 9 years, Karl writes for several companies and publications in the finance space. 

You can view his extended profile, list of publications, and theoretical content work on his LinkedIn page. 

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