BBVA Bear FlagTaking a look at the 4h chart we see that the price action has found resistance at the 50 Ema as it crosses the flag formation. From here we should test the bottom of the bear flag, if support isn't found there, intense selling will occur taking the price action to the target of 5-5.1.
BBVA
BBVA is BBVA is making an inverse cup and handle formation, If this pattern plays out, we should expect to reach the 4.7 target around september-october where the rising support trendline (in black) is. This trend line has been spot on on giving targets, it connects the 3 lows from 2009, 2012 and 2016. There has also been a recent bear flag which projects a target at 5-5.1. We might get a small rally from there, although I believe 4.7 will be eventually reached.
BNK ETFChallenge to multi-year Overhead supply, run by non-commercial traders.
According to many colleagues usually, this behavior encourages retailers to take the trade but in reality fails as it is run late.
Therefore, I personally think that at some point European banks as a whole are to outperform.