Bullish cross over in Commercial Bank sector

Aug Mon 2021 10:44:39

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Bullish cross over in Commercial Bank sector

The MACD line has clearly cut the signal line from the top some time ago. Histograms have also been negative. This means that sales pressure is high in this sector.

The state of the development bank is clearly still bullish (see Green Arrow). Histograms have been positive. This indicates that buyers are gaining ground in the sector and that demand is likely to remain high this week.

There has not been a bearish crossover in hydropower yet but it seems to be possible. Based on the drawings made by the MACD line, there is no bearish crossover but it is likely to happen in the future. This indicates that there may be selling pressure in the market.