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Deutsche Bank Daily Technical Analysis | 24 January 2018

2018-01-24 08:31 am | Resource: Technical Analysis Section | No Views : 338

Deutsche Bank breached the secondary downtrend line on the 240-minute time frame during yesterday's trading as buyers pressured the German stock and breached the 15.56 area, confirming the breach of the trend line.
 
Deutsche Bank Daily Technical Analysis | 24 January 2018

Currently, the bank's share is trading in a bullish direction, and the SMA is positively cross with the slow moving average and was confirmed by breaching the 15.56 area.
During last week's report, we noted a negative head and shoulders pattern and the failure of the pattern to achieve its target as a breach of the bearish trend line.
From the MACD index a positive cross broke and became in a supportive position for buyers.
It is expected that if the German bank's shares break to 16.02, the stock might target 16.90 euros on the other hand. If the 14.97 level is breached, the stock might target 14.01.
Support: 15.65 - 14.87 - 14.28
Resistance: 16.90 -17.49 -18.64
Trend: Up


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