Charts: Banking Stocks Could Bounce 100% or More
The US banking index jumped 55 percent in the last six trading sessions, but could jump another 100 percent after a short period of consolidation, Chris Locke, technical analyst from Oytsertrade.com, told CNBC Wednesday.
"We can easily see some further upside momentum once any consolidation is out of the way," Locke said.
In addition, food and oil will start to follow gold up in the commodities sector in the spring that could last through the summer or even the end of the year, he said.
Gold is now in the second part of a correction that could be exacerbated if it drops below $900 per ounce, but it will set new bull-market highs "very quickly" and remain firm through 2009, he added.
- Watch the full interview with Chris Locke above.
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