LindellBrown

ROYAL BANK OF SCOTLAND - TIme to ZOOM

Long
LSE:RBS   None
RBS faces its earnings tomorrow, which although may be patchy, should not be cruelly wounding to their overall growth. We have a beautiful sign of a golden cross forming here, as seen highlighted within the blue circle. We have a previous divergence, leading up to us sitting on top of the marked support. It's clear RBS is interested in sitting at a higher level than previously before, and accompanied with the sufficient volume , this could really take off should the circumstances come correct.

The SL is marked just below where we wicked down to an hour previous. There is no guarantee that this support will hold, but it seems relatively strong, especially comparing it to the past performances in its existence. It helps a lot that we have pushed through this support rather than fallen to it, as it indicates that this price level is secure and potentially trustworthy.

Hopefully RBS can show us some green over the next couple of weeks. This is mapped for more of a long term hold, maybe exiting in mid-May.