Furthermore, Basle III regulations, an entirely new set of them involving unfunded revolving lines of credit are being imposed which will require some $100 billion more in Tier 1 capital for banks. This, by the way, is BAD REALLY BAD for banks.
Looking at Bank of America, we have resistance on a beautiful 3 point trendline, and a 38.2% retracement between highs and loows 2008-2009. Not to mention resistance against 200 DMA. 11/16/16
Meanwhile, BAC has rallied some 25% in a week.
Furthermore, Basle III regulations, an entirely new set of them involving unfunded revolving lines of credit are being imposed which will require some $100 billion more in Tier 1 capital for banks. This, by the way, is BAD REALLY BAD for banks.
Looking at Bank of America, we have resistance on a beautiful 3 point trendline, and a 38.2% retracement between highs and loows 2008-2009.
Not to mention resistance against 200 DMA. 11/16/16