Germany: Commerzbank begins to decline – Analysis – 14-2-2019

Commerzbank price confirmed its affection by the bearish bias domination by forming a new bearish channel, to fluctuate below the resistance at 6.50 as appears in the above image, the stability of the moving average 55 near the main resistance confirms the price confinement within the negative range makes us wait for recording new negative targets by reaching 6.05 and 5.80.

Stochastic sharp decline and its attempt to reach to the oversold level supports our negative expectation, by providing an extra negative momentum, increasing the chances for reaching the suggested negative levels.

The expected trading range for today is between 6.35 and 6.05

The expected trend for today: Bearish