Royal Bank of Scotland Group shares (LSE:RBS) are in a bearish trend,
which started in December 2019. In that month, price gapped upwards massively
and later nosedived as buying pressures disappeared from strong distribution territories.
Price has been trending downwards since then, resulting in a “sell”
signal as it goes below the EMA 21. The William’s % Range period 20 is in the
oversold region, which shows a great weakness in the market.
While there would be upward bounces and rallies effort, they will all be
temporary as those bounces will be traps to catch bulls and slash them. The
overall bias on RBS is bearish and further bearish movements are expected this
year.
Thus price could reach the accumulation territories at 210.00, 200.00 and
190.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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