Deutsche Bank Bullish pin bar | 08 December 2017

DeutscheBk weekly review

Technical Observation:

During the previous, the price of this share opened at 18.84, went as low as 18.43 and a high as 19.08  but ended up closing at 18.96. The previous week's candle is a perfect bullish pin bar candle and signal a possible increase in the number of buyer in this market. Having said that, We expect a possible bullish price rally towards 20.98 and could break even higher with the next target at 25.93. The anticipated bullish price rally is merely the continuation of the impulsive wave (i) to the upper side  and should break above 20.98. Should this be the case, then we will be continuing long with the next impulsive wave (iii) towards 25.93.  

Trade Recommendations:

Buy the shares of this bank now, with your first take profit at 20.98 and the next target at 25.93.

SPX500 weekly review

Technical Observation:

During the previous trading week on Friday, this index opened at 2645.6, went as high as 2652.1 and as low as 2606.4 but ended up closing at 2642.9, just a few pips above its opening price. Th Friday's candle is a perfect bullish pin bar candle and indicates that buyers are still in control in this market. Thus, during this week and even in the coming week, we expect a possible bullish price rally towards 2705.00 and could break even higher but should not go beyond 3000.00. This index has a strange positive correlation to Bitcoin. These two have been in constant up trend and chances of continuing to the upper side are highly anticipated. Thus, remain long on both.

Trade Recommendations:

Remain long with your target at 3000.00.

 Bitcoin Weekly review:

Technical Observation:

For the past ten years now, we've seen Bitcoin rise in value from  mere 7 dollars to over 10,000.00 US Dollars per Bitcoin. For sometimes to come now, this cryptocurrency could continue to rise in value and may reach up to 20,000 per bitcoin in 2020. Technically, we expect the impulsive wave (5) to spike even higher during the coming week and even during the coming weeks. Any correction to the lower side before a buy position is considered will be the best place to buy this crypocurrency with your target at 20,000. As saw above, this crypto currency have a strong technical correlation to SPX 5oo and will move in the same direction during this week and even in the coming weeks.

Trade Recommendation:

Buy Bitcoin now with your target at 20,000.00