Coming back to European banks I notice that, one of the names I follow, has been moving higher again today, and that’s CBK GR Commerzbank AG .

Up by almost +3.0% on the day , not exceptional in itself (though pretty good on a dull pre- Xmas Friday) but good enough to put CBK “right and centre” on the European Financials Sector Smile – Higher to the right denotes price action relative strength.

I also note CBK has posted 10 new 1 month highs in the last month. When it last had a run, it failed at / just below €38.40. So all eyes on that level now -though I am not sure we will trouble it today .