Large and Regional banks have struggled this year, as both indices have declined nearly 15% in 2018. These declines have taken place as interest rates have been moving higher, which historically is positive for banks.
The declines of late in Regional Bank ETF (KRE) has it testing 7-year rising support as well as the 2007 highs at (1).
The Power of the Pattern is of the opinion, what KRE does at (1), will send an important message to the banking industry and the broad markets.
Keep a close eye on KRE in the weeks ahead friends, this looks to be an important test of support!
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