Hello everyone! The events of recent days have set a lot of traders and investors in a pessimistic mood regarding the banking system of the West. The bankruptcy of the large US bank Silicon Valley Bank (SVB), as well as growing doubts about the good future of the Swiss bank Credit Suisse, make stock market players very nervous. We can see this by the fall in stock prices of almost all banking structures of major world powers. The world’s leading analysts are now competing to see who can most accurately predict the place and time of the next bank failure, regardless of ratings. Moreover, analytical articles by many highly respected authors predict a full-scale crisis in the banking structure of the West, no less. Meanwhile, on Friday, on our Russian stock market, a very significant event took place regarding the global banking system. I mean a powerful rise in Sberbank shares. Of course, you all saw Friday’s price spike on the dividend payout with amazing returns. It would seem, what do Sberbank dividends have to do with the global banking system? After all, our banking system is poorly connected with the Western one. After all, everyone remembers about sanctions, disconnection from the SWIFT system, etc. In this article, I will conduct a parallel Gann analysis between the Russian and US stock markets to identify this connection. Let’s start with a general analysis of Sberbank shares on the chart. Timeframe H1.
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?