Banks are falling and conversely, FAZ
has been on the rise. We appear to be at 2 points of resistance; first is the descending wedge
that has been forming over the last several months. 2nd, we seem to be back in that descending channel
and nearing resistance. However, the 3rd point of resistance is the ~$11.50 price that has acted as historical support and recent resistance. If this breaks, could we be headed higher? Out of the channel and above the wedge?
Keeping my eyes on this closely over the next few days as there is substantial gains to be made long or short of this depending on if resistance holds or not.