DAX: We have drawn in the neckline of a potential head-and-shoulders top that’s been building since early 2017. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle

 

DAX SHORT TERM TRADER: Tiny short at 13145; stop above 13050. Target 12400.

DAX POSITION TAKER: Short at 12935; stop above 13050. Target 12000.

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Australia’s record fine
Double amount set aside
Australia’s biggest bank, Commonwealth Bank (CBA) has agreed to pay a A$700 million fine to settle money-laundering charges, Reuters reports this morning. This follows investigations into widespread misconduct over several years by the big 4 banks. The bank admitted to breaching money-laundering and terror financing rules on 53,750 occasions, while suspicious transactions
were not reported and monitoring processes failed. The bank had factored in a maximum penalty of A$ 375 million.
Elections in Slovenia this weekend, where the 1.7 million electors had to choose between 25 different parties, saw the right-wing anti-immigration Democratic Party, led by ex-PM Janez Jansa, win the most seats with 24.4 per cent of the vote. In second place, with 12.6 per cent was the anti-establishment List of Marjan Sarec party, while the outgoing PM’s Modern Centre Party got 9.8 per cent.

Financial Markets & Political Commentary

 

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