Technical Strategy: Turning Bearish
Elliottwave Count: We are in process of completing wave B.
Near term outlook suggesting to have one more leg up towards 0.89523 where wave (B) can be completed, post that, we can expect temporary bearish correction kick off which can be targeted well below 0.8010.
Wait and see strategy. No...
"...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
Good chances for buying RBS, what is important: we wait until the rectangle is violated before we do any action.
The main reason that after Brexit the markets are recovering and one of such stocks is RBS.
The Dax has finally covered the gap and it is moving higher this morning back to normal levels seen before the fundamental news of the Scottish Referendum which would have a massive effect on the European and German market.
I do believe that this will cover the gap and then begin moving downwards.
I have set a very short SL and have a very healthy 2.38:1...