Monday, 26 September 2016

DB - a new historic low

Whilst most world markets - including the US, started the week on a broadly weak note, there was very significant weakness in Deutsche Bank (DB), which settled -7.1% @ $11.85. Near/mid/long term outlook is bearish. Next soft psy' level support is $10.

DB, daily

DB, monthly


*there was an intraday 'flash print' low of $11.23, but that does not appear on all charts/trading software.

Suffice to add, it remains somewhat amusing to see Germany's Merkel talk about how there won't be a bailout for DB. Such talk is to be expected though.

DB is unquestionably... one to watch!