- Frost Bank bearish trend is facing a possible turning point at $125.84
- Bollinger analysis indicates upper Band® is at $67.85
Commerce Bancshares's notable support and resistance levels: a persuasive break of this target could lead to higher losses. Trend-focused traders would be interested to note that Commerce Bancshares's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Analysis based on the asset volatility indicates that Commerce Bancshares's lower Bollinger Band® is at $64.25.
For the time being, Commerce Bancshares remains flat without a clear direction.
Frost Bank's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Frost Bank is hovering around the $126.33 Fibonacci support level. Frost Bank has just crossed the lower Bollinger Band® at $126.92, indicating further losses could be forthcoming. In contrast, bearish run for Frost Bank is facing a possible turning point at $125.84, which is only 70 cents away. If this support line fails to hold, the next target will be at $123.96.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting Frost Bank to extend its recent losses.
Bearish run for Discover is facing a possible turning point at $110.33, which is only 27 cents away. If this support line fails to hold, the next target will be at $109.27. Discover Financial Services's lower Bollinger Band® is at $108.63, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that Discover Financial Services (currently on a downtrend) might reverse course and start pointing upward in the short term.
With regards to technical trend indicators, chart analysis show that Synovus Financial Corp.'s CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Price action remains constrained around the key Fibonacci level of $38.74 currently serving as support. If price action breaks below, the next Fib hurdle is $37.02. According to asset volatility analysis, Synovus Financial Corp.'s lower Bollinger Band® is now at $39.18. Technical chart analysis shows a convincing break of this target could pave the way for deeper losses.
For the time being, Synovus Financial Corp. remains flat without a clear direction.
Fundamental indicators – following a previous reading of 1.17 million, Crude Oil Inventories in United States released today at 15:30 UTC fell short of the 395,000 figure expected by analysts with an actual reading of -1.69 million.
Upcoming fundamentals: United States Initial Jobless Claims projected to come out at 195,000 — worse than previous data of 190,000; data will be released tomorrow at 13:30 UTC.