themarketzone
Short

Consolidation inside the PRZ - Butterfly completion near X

NYSE:BAC   BANK OF AMERICA CORP
BAC             Bearish Bat pattern is still valid as the price consolidates inside the PRZ, below two broken uptrend lines.
As the markets await Yellen and the Fed, Financials are stuck and that clearly being reflected in BAC's chart.

If the price will attempt to rally and test the X zone (18.5$) it will complete a small Butterfly pattern that will add chances that we will see bearish reversal in BAC             and a move towards 16.5$-17$

R/R shown in the chart (for two scenarios)

Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
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Comment: Trade reached Target Level.
Closed
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