Nvidia shares jump after resuming H20 sales in China, announcing new processor
What banks do in the states can impact banks in Europe. The opposite is also true, what banks do in Europe, can send important messages to banks in the states.
Below looks at iShares MSCI Europe Financials (NASDAQ:EUFN) –
In our humble opinion, weakness of late in EUFN and banks in the states (Financial Select Sector SPDR (NYSE:XLF)) have NOT broken the upside momentum.
What EUFN does at line (2), which is the 22.37 level, could send very important micro and macro messages to European and banks in the states, as momentum is lofty and could be turning lower.
Line (2) comes into play as support…this could become a very important support test! If this support would happen to give way, a domino impact could take place in the banking sector.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.