Nearing Another Oversold Stage, Looking for Entry
Previous pattern, Inverted Head and Shoulder, breakout was diverted by strong resistance around 36.70. Since the previous pattern busted, price has been coming down fast, we've already broke below the neckline support and are heading towards the previous low where the Head of the Inverted H&S stood at 27.85.
Double Bottom Possibility
To characterize as a Double Bottom Pattern, the second low can not go 3 degrees below the previous low. 27.00 is about where one would put in stop if we do spend time below $28.00.
Increased EU QE for June-July months shall help soften the blow if Greece should default on debt next month. However, DB does not hold much Greece bonds, but the German bank has caught a negative fever by European investors fearing the looming Greece default.
Double Bottom Possibility
To characterize as a Double Bottom Pattern, the second low can not go 3 degrees below the previous low. 27.00 is about where one would put in stop if we do spend time below $28.00.
Increased EU QE for June-July months shall help soften the blow if Greece should default on debt next month. However, DB does not hold much Greece bonds, but the German bank has caught a negative fever by European investors fearing the looming Greece default.
Dilution Dilution Dilution
and Banks are eating NIRP
I predict eventually 0 if NIRP is continued through 2018