#DAX #BRENT Thankfully, few things are as safe as the 100p level being illustrated by #RBS as the lowest the share price can go. Of course, we’re being sarcastic, especially as the share has broken the original Covid-19 inspired drop on 3 different occasions. This is not a comforting signal, quite the converse as all sorts of bad stuff is now available! The immediate situation is actually fairly frightening, the price could more than half without too much effort.
Writ large is the important detail “ultimate bottom” now calculates at 51p, this being the price level we cannot calculate closure below. The share price requires exceed Blue (147p currently) on the chart below to utterly remove this calculation potential, so there’s a bit of a miracle required. Even near term, weakness below 100p now indicates the threat of reversal to an initial 94p with secondary, if broken, down at 78 and hopefully a proper rebound.
Who knows, perhaps the idiom, “it ain’t going down, so should go up” shall apply in this case but we’re loathe to place emphasis on it, thanks to the price trading below initial Covid-19 drop levels. However, we prefer always check both sides of the coin when examining price movement ideas. With this in mind, even above 138p should give early warning for a miracle rise in the weeks ahead, ticking a very small box which shall alert us to an early growth potential.
Above 138p allegedly allows for growth to an initial trend challenging 148p with secondary, if bettered, at a visually extraordinary 174p. In fact, thanks to a few movement gaps, the price could easily accelerate to 182p without difficulty. The only problem?
We doubt it, thanks to the shares track record. RBS share price is behaving as if a Covid-19 2nd wave is a forgone conclusion, rather than a theory.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:24:52AM | BRENT | 43.37 | 41.37 | 40.915 | 40.06 | 42.11 | 43.4 | 43.5 | 44.21 | ‘cess | |
| 11:28:44AM | GOLD | 1799.16 | Shambles | ||||||||
| 11:33:52AM | FTSE | 6133.55 | ‘cess | ||||||||
| 11:43:31AM | FRANCE | 4997.8 | Success | ||||||||
| 11:46:05AM | GERMANY | 12727 | 12541 | 12436.5 | 12300 | 12622 | 12733 | 12781.5 | 12836 | 12620 | Success |
| 12:12:46PM | US500 | 3190 | Shambles | ||||||||
| 12:20:57PM | DOW | 26106 | ‘cess | ||||||||
| 12:23:24PM | NASDAQ | 10856 | ‘cess | ||||||||
| 12:25:51PM | JAPAN | 22605 | Shambles |
