Another look at RBS

[barjon]

Time for another look at RBS.

there's a lot happening at the 1515 - 1530 level with a firm
support base established - via the tails of hammers on 14/4
and 21/5 the sept lows and the bottom of the recent congestion
area; and fib 50 support.

It retreated from fib50 resistance in october and having explored
higher ground on Thursday and Friday from a 3 week congestion
band it stalled on both occasions at 1614 and retreated from the
new fib50 resistance. Nonetheless it's holding just about at the
top of that 3 wk congestion band.

A further slip to around 1580 and there may be 40 short points in
view? Conversely, a hold above 1614 might see 40 long points?

jon

ps sorry about poor quality of chart - haven't got this posting
quite worked out yet

 

[ZigZag]

barjon. RBS is one of favourite intraday trading share. I see you use sharescope. Consider superimposing a Regressional Analysis channel onto the graph. I use two time frames, 10 Day & 5day both set at 1 standard deviation. I will be surprised if you cant devise a trading plan from the info. Regards.

 

[barjon]

RBS heading south?

After Tuesday's bearish candlestick engulfing pattern at Fib50
resistance is RBS due for another look below 1550?