BAC Breaking out of a channel forming a solid bullish trend.

Price is consolidating at two very key support levels. The top of the channel that it just broke out of and the support of it's new bullish trend line. A lot of support inter market, the DXY is bouncing on major support, the BANK index is breaking out to test resistance again, and the XLF is also breaking out to form a bullish continuation. Looking for a close around $24.50 to start the rally, if it does not breakout before the weekend the key indication will be further consolidation which would close Friday with another Doji, this would just about guarantee that price will be rallying at the beginning of next week. A bad sign for the bulls would be a close any lower than the support of it's trend line and possibly even any lower than today's close of $23.94, although it is still possible that it will breakout later in the week if it does. As it stands right now I would call this the swing low and hope to rally up for the weekend and the rest of next week.

Comment:

Trade Idea VOIDED on 7.26.17