Germany: Commerzbank shares price breaks key support – Analysis – 15-8-2019

Commerzbank price formed a strong bearish wave, reaching below an important support that is represented by 5.55 level, to begin recording losses due to its reach to 4.82 level, by the above image, we notice forming a new bearish channel, which makes us prefer more of the negative attempts until reaching 4.40 and 4.05.

Stochastic reach to the oversold level supports the attempt of gathering the extra negative momentum, which confirm its readiness to resume the negative attack until recording the mentioned targets.

The expected trading range for today is between 5.30 and 4.40

The expected trend for today: Bearish