Commerzbank shares price surrendered to the sideways bias domination recently, to consolidate around 8.26 level, but that won’t change the negative overview as it keeps consolidating below the bearish channel’s resistance at 8.90, thus, we will keep waiting to form strong negative attack, noting that the first target is located at 7.95, followed by extending trading towards 23.6% Fibonacci correction level at 7.36.

Stochastic continuous fluctuation within the oversold areas will increase the chances of gathering new negative momentum in the near term period, to allow it to start achieving the suggested negative targets.

Expected trading range for today is between 8.50 and 7.95

Expected trend for today: Bearish