Update on RY.
Royal Bank still consolidating productively on the weekly 50EMA.
Also finding support from the 200 day EMA.
Bullish StochRSI divergence remains.
Scenario 1 calls for a breakout to the upside. Position small if anticipating the breakout.
Scenario 2 calls for a break out support and a test of the 90 area.
"...Its progress with the DoJ is particularly important to Royal Bank of Scotland, because the British lender is also expected to be hit with a hefty US settlement. RBS posts third-quarter results tomorrow but is not expected to give a substantial update on its DoJ talks because they are not thought to be at an advanced stage..."
27 OCTOBER 2016 • 2:33PM