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Deutsche Bank Daily Technical Analysis | 18 September 2017

2017-09-18 07:32 pm | Resource: Technical Analysis Section | No Views : 187

Deutsche Bank is trading in a bullish direction on the 240-minute interval. The upside move is in weakness due to a failure to breach the resistance level of 13.99 Euro and the SMA coming from the cross with the slow moving average, which is another negative indication.

Deutsche Bank Daily Technical Analysis | 18 September 2017

The Bundesbank is still trading below the neckline of a classic head and shoulders pattern, has achieved a large side of its target and rebounded to retest the 13.99 resistance level so far and fails to break through.
The MACD index is a negative cross indicating the return of the sellers to control the German stock again, and the index (dmi) shows the weakness of the uptrend and the decline from 40 levels.
It is expected that, as long as Deutsche Bank shares are trading below the neckline for a negative head and shoulders pattern of EUR 12.07 on the other side in case, a break of 13.99 might target 14.71.
Support: 12.72-12.07 - 10.79
Resistance: 13.99- 14.71- 16.73
Trend: Down


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