💾 U.S. Bancorp 2008 Type Of Crash Incoming

12 mar 2023

We are now at #5 of the TOP10 biggest banks in the USA, this one seems pretty bad as well.

Let's start with the weekly chart and then we move to the monthly for the bigger picture:

✔️ This week USB had the worst week since Feb. 2020, Covid days.
✔️ A major support level failed in the form of 0.618 Fib. which can lead to lower prices.
✔️ We have a bearish cross on the MACD and RSI trending lower; I will show you the charts this time.

USB Weekly MACD:

USB Weekly RSI:

✔️ While the monthly chart lost EMA10 and EMA100, support was found at MA200.
✔️ The MACD is trending down while already bearish.

How far down it goes will depend on the politics, how much money they decide to print, if the banks will get a bailout or not, etc.

We have to see how it all develops.

The side effects of raising interest.
They wanted to crash the economy... It is working.

Namaste.

8 jun 2023

Nota

First target (29) has been hit.
Next target ~19.