Royal Bank of Scotland
stock (LSE:RBS) is a bull market, though quite volatile. In spite of the
volatility, price is expected to go further upwards from here.
4 EMAs are used for the
analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each
EMA is shown at the top left part of the chart.
Price is now above the
EMA 200 (a golden cross) and the other EMAs are also sloping upwards. This is a
bullish signal. While price may dip into the EMAs 10 or 20, the general
movement for this year should be bullish.
As long as RBS does not
go below the EMA 200, the bullish expectation on the market would be valid. The
targets for the year 2017 are located at the resistance levels of 240, 250 and
260.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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