Aug. 27 at 7:22 PM
$BNY $XLF
BNY remains within a constructive rising channel and continues to exhibit a bullish intermediate-term trend. However, recent price action suggests a loss of upside momentum, as a price/momentum divergence developed into the August highs and was followed by a rejection candle and a bearish RSI crossover. Repeated tests from the
$163 -
$166 resistance region have thus far failed to produce meaningful acceptance, indicating that overhead supply remains active. As a result, the current evidence favors consolidation (within the broader uptrend) rather than immediate upside acceleration. A sustained close above the
$165 -
$166 resistance zone, accompanied by underlying renewed momentum expansion, would strengthen the case that the primary uptrend is resuming.
