I believe the European Banking sector topped today, and will see substantial, sustained and severe weakness in the weeks ahead. Obviously, this should bring down global risk assets.
Of particular note are the French banks, which look downright sick.
This is a four-hourly chart of the Euro-Area banking index, where the rally from 2011 lows is likely over.
Aidyn Kussainov
London, UK.
+44 (0) 7917 274 989
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