Weekly Chart shows BAC
bouncing off the 18-19.50 level 5 times since 2009
. Fib retracement shows support at 15-15.50 level. Looks like a promising short for now. The new catalyst is The Fed raising rates, which is beneficial to banks as their "interest spread" increases (rate they pay depositors to rate they charge clients for their products). Eventually BAC
will most likely break this level in the intermediate to long term.