Deutsche Bank - head and shoulder formation - target 6,60

market price is in up trend after confirmed double bottom on daily chart. I expect up movement to 7,65 - 7,7 where is first strong resistance. Deutsche Bank has lost fuel after confirming the broken fusion with Commerzbank which was a boost for the price in the last weeks. If price reacts as expected we can expect confirmation of drawn formation which implements down movement to 6,60. Head and shoulder formation confirmation would be an daily close under trend line as drawn in the chart.

RSI implements further up movement
MACD baselines going to cross bullish which implements further up movement but only small one because baselines are in down and bearish MACD area
entry at 200D moving average resistance

Wait for confirmation before entering this trade. Setup is confirmed if daily candle close under 200 day moving average and within drawn sell area.

Handel aktiv

Trade stängt: Stopp nått:

trailing stopp reached after gap opening

Trade stängt: målet nått