Royal Bank of Scotland #Gold #DAX A truism about the climate here in Scotland is “if you don’t like the weather, wait a minute!” As our RBS report shows from just a month ago (link here), it appears something similar may be said about the banks share price… “If you don’t like it, just wait a while!”
Last time we reviewed it from a big picture perspective, we gave upward criteria for 267, the share price finally choosing to close slightly above this level. To be honest, it was a surprise as we’d truly expected RBS to become a victim of the Brexit shambles, a situation the price now appears to be avoiding. Instead, some optimism appears possible for the future (obviously though, politicians remain with ample ammunition to foul things up) and movement now above 275 suggests some near term travel to a lame 279 is now probable. In the event 279 is bettered, we’re looking for a longer term 306p.
Visually, it appears 306 shall prove an excellent place to park the share price as part of a climbing cycle, this suspicion justified by the Brexit date probably being extended and the visual impression of a glass ceiling awaiting around the 3 quid mark.
For trouble to confirm its presence, the share price would presently require slither below 255p to give real cause for concern. Such a movement allows reversal to proceed down to an initial 248p with secondary, if broken, at 239 and very possible rebound.
But for now, despite this being a Retail Bank, from Scotland, we’re forced to acknowledge some hope is present for the future – at least until the 306p point. Unfortunately, there is the risk of politicians exhibiting their usual Brexit competence and returning the markets to uncertainty.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:15:26PM |
FTSE |
7296.09 |
Success |
||||||||
10:16:57PM |
BRENT |
67.34 |
‘cess |
||||||||
10:19:05PM |
GOLD |
1303.5 |
1298 |
1296.5 |
1293 |
1305 |
1307 |
1310 |
1316 |
1298 |
|
10:20:31PM |
FRANCE |
5417.9 |
|||||||||
10:22:05PM |
GERMANY |
11670 |
11634 |
11606.5 |
11571 |
11693 |
11713 |
11741.5 |
11784 |
11632 |
|
10:23:51PM |
US500 |
2837.87 |
|||||||||
10:26:40PM |
DOW |
25953 |
|||||||||
10:29:41PM |
NASDAQ |
7338 |
‘cess |
||||||||
10:34:14PM |
JAPAN |
21613 |
‘cess |
18/03/2019 FTSE Closed at 7299 points. Change of 0.98%. Total value traded through LSE was: £ 4,945,533,214 a change of -57.84%