Lloyds Banking Group begins to make a weak bullish effort

 Lloyds Banking Group plc shares (LSE:LLOY) do not have much activity on them right now… But price is making effort to go upwards… Albeit gradually.

Price has managed to go above the EMA 21 (though there remains possibility of it going back below the EMA). The Williams’ % Range period 20 is generally pointing upwards, aiming to go into the overbought territory.

In spite of the current threat of breakdown, there remains a possibility that LLOY would go upwards. A movement above the resistance level at 60.00 would strengthen the ongoing bullish bias, while a movement below the support level at 55.00 would negate it.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities