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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Monday, February 08, 2016

Banks and Oil Don't Mix

As WTIC Crude Oil goes, so goes Deutsche Bank, as shown on the 5-Year Daily comparison chart below.


Right after the opening bell this morning, DB made a new 5-year low of 15.95, as shown on the Daily chart below. There's no confirmation of a reversal in sight, technically, yet for DB, although the RSI may be hinting at a bit of a slowdown in the plunge.


Meanwhile, Oil is trading at 30.06...1983 prices, as shown on the Monthly chart below.


Both DB and Oil have been especially weak since mid-2014 (DB began falling at the beginning of that year, so whether it was forecasting weakness in Oil is a matter for consideration)...two to watch to see if either gains any support in the near future, or continue their falling-knife action.

*P.S. You can read more regarding the woes facing Deutsche Bank here and here.