As WTIC Crude Oil goes, so goes Deutsche Bank, as shown on the 5-Year Daily comparison chart below.
(Click on image to enlarge)
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.
(Click on image to enlarge)
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.
