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TBNI: BANKS INDEX

Tadawul Banks Index (TADAWUL:TBNI)  
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TADAWUL:TBNI   Tadawul Banks Index
Harmonic Patterns Chart Patterns Trend Analysis TASI TBNI chartanalysis Falling Wedge
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harmonicpatterns chartpattern trendanalysis tasi tbni chartanalysis fallingwedge

Banks Has good weightage in TASI and thus following the similar behavior as TASI

Beautifully following Falling Wedge Pattern.
Bearish Until End of Nov
Short Bullish retracement within Falling wedge is expected by End of November Until top of falling wedge.

Watch individiual stocks

Trade with Stop Loss
Comment:
TBNI Banks Index is following the same pattern as TASI with heavy weightage sector

After a false breakdown from Descending Channel, it is back to the channel.
An upside movement for almost 2 weeks is expected until the top of Descending Channel.

Watch individual stocks within the sector for trades.

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