Germany: Commerz Bank faces new resistance – Analysis – 13-9-2019

Commerz Bank ended its bullish correctional rally by facing a new resistance at 5.93, to assist confirming the main bearish bias domination, and the stability of the moving average 55 above the current resistance will increase the negative pressures, which makes us prefer reaching to 5.26 level, then wait for providing a new negative pressure on the support level at 4.65.

Stochastic attempt to surpass the overbought level confirms getting rid of the positive pressures, to increase the chances for gathering a new negative momentum, to ease the mission of reaching to the mentioned targets.

The expected trading range for today is between 5.90 and 5.30

The expected trend for today: Bearish