Royal Bank
of Scotland stock (LSE:RBS) has assumed a bullish trend, and it is set to
recover its recent loss. The current pullback is only a pause in the bullish
momentum, after which it is expected to continue.
The ADX
period 14 is at the level 20, showing some decrease in the market momentum. The
DM+ is above the DM-, meaning that bulls still hold sway. The MACD default parameters, has its signal
lines and histogram above the zero line. There is a Bullish Confirmation
Pattern in the market.
The
current pullback is not the end of the bullish momentum – it is only a pause.
The trend will resume as price targets the resistance lines at 260.00, 280.00
and 300.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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