The key level here was the mirror level 174.00. On Wednesday and Thursday, the price formed reversal candlestick formations at this level, and when the descending inclined channel was broken at the end of Thursday, everything became clear. So opening with a gap on Friday on the basis of information about dividends is quite understandable – closing shorts plus the entry of new money into the market in the hope of paying dividends. The volume bars show this very well. Now let’s take a look at the stock charts of America’s leading banking structures. I chose the 3 largest of them – Banc of America, Citigroup, Wells Fargo. Below we look at the charts of the shares of these banks on the same hourly timeframe.
Just want to say about some common features. Descending inclined channels are not broken. This means that one or two exchange sessions for the “divorce of the crowd” and the knocking down of short stops of intraday buyers can be quite allowed. Please pay special attention to the volume of transactions. As you can see, everywhere they are raised. I think there is a powerful buying of assets before moving up. I have green line targets #1 and #2 on each chart, a return to the red mirror levels. Well, now the promised connection. The fact is that Gann’s weekly momentum goes up throughout the banking sector. It’s just that this time the trigger was Sberbank’s shares in our market. The stock market of the west is next. And then, don’t you think that someone is very obsessively throwing outright panic into the information space, actually forcing investors to dump the shares of banks with the highest rating. Why do you think?