Bearish on European Financials

The attached article sites how European investment banks are losing footing against their American cohorts. Technically, we see the price action narrowing in on the 21.30 area, looking to break out. The Ichimoku cloud indicates massive resistance from above and it does not appear that EUFN has enough momentum. The RSI/MACD combination implies this is an optimal time to get in, and the OBV reveals that there is still strong buying pressure but that its wanning a bit.

Note further the relative vacuum area from below. For profit targets, consider 21.00 and 20.60 formed by the head and tail of the candle at 10/02. You can use the low of 10/03 as a stop loss.