Los bancos tantean sus soportes

European banks are trying to find support, as evidenced by the Euro Stoxx Banks index, which is currently attempting to rebound from the 50-week simple moving average. This is the seventh time the index has sought support at this level since 2023. The banks are facing seasonal challenges, with the American midterm elections potentially impacting the market landscape. However, the banks are expected to drive a recovery in European markets once the election results become clear.

The key support levels for the Spanish banking sector are currently at the 1,800–1,880 point range. This range has provided strong resistance since 2023, and a break above it could signal a major deterioration in bank performance. The Euro Stoxx Banks index, which is closely monitored, has bounced off this level six times since 2023, making it a critical support for the sector.

Several European banks have shown resilience, with potential reversal points near significant support levels. BNP Paribas is supported by a strong upward trend line, which began in late 2022 and now sits around €75. If this trend line holds, the bank could present a buying opportunity. Société Générale has also identified a key support level around €57, which coincides with the March 2025 lows.

ING, the Dutch bank, has a clear uptrend support line starting from the pandemic lows, near €25, which could be a favorable entry point if market conditions worsen. Lastly, Deutsche Bank has been rebounding steadily from the €28 support level, representing a 61.8% gain from the March highs to the September highs, offering a compelling opportunity for investors.