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Deutsche Bank Daily Technical Analysis | 30 November 2017

2017-11-30 11:36 am | Resource: Technical Analysis Section | No Views : 300

Deutsche Bank broke the bearish trend line three days ago and during yesterday's trading rebounded from 15.45 targeting a negative bat pattern. During yesterday's trading, the stock started to retest the broken trend line.

 Deutsche Bank Daily Technical Analysis | 30 November 2017

Currently, the banking stock is trading in a bearish direction over the hourly interval, the simple moving average and the slow moving average are both negative but without confirmation.
The MACD is still in a negative cross and although you have seen the histogram columns are decreasing below the zero, which indicates the bear's weakness.
It is expected that if the 16.16 break fails, the Bundesbank share may target 14.83 on the other hand, if the German share is breached at 16.16, it may target 17.49.
Support: 15.66 - 14.87 - 14.28
Resistance: 16.65 - 17.49 - 20.00
Trend: Down


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