Price has taken out support at 62.70 and now looks to 59.10. Nice place to move your stop down is above 64.25, as we approach the clear air pocket below 58.70.
US regional banks now feeling the treble whammy of auto loan mess, CRE write-offs and cash funding squeeze. China is deflating and the US is shutdown.
Those able to cover positions between 35.00 and 45.00 deserve a medal for endurance. We’re looking to take 50% off the table at 45.00 and cover at $15.00 which would mean an expected depression/severe recession in the US.