BARCLAYS PLC ORD 25P

MARKET GO SHORT

Nice base formation around 205 followed and a rebound from the 200-DMA with RSI nicely positioned above 50.00 levels, suggests potential for a rally to 225 levels in the short-term.

Daily chart - Breach of the rising trend line (drawn from June low and September low) adds credence to the round top pattern and bearish breakdown on the RSI. A daily close below 219.10 (Jan 31 low) would be an icing on the cake. Doors would be opened then for a sell-off to 200.00 levels.

Good position to have some retracement but not willing to go down alot at the moment... Waiting...

Current structure indicates buyers exhaustion. Therefore sell to 0.5 fib. retracement level form last up move.

Barclays is one of the volume leaders today. The stock appears priced for a correction – Bearish price RSI divergence on the 4-hour chart Overbought on the daily chart Stuck at weekly 100-MA Thus, a minor pull back to 200 from the current price of 2111 appears likely.

For now it looks down again but we might have a good long opportunity coming up around the 150 round level...

The chart speaks for itself, we have a very clear downtrend here, after breaking below the key earning levels above after the 'Brexit' induced volatility spike. We can enter shorts for continuation here, and look for prices around the 70 handle, without being overly optimistic (or pessimistic on European banks). Price has to stay under today's high for this setup ...

short

Broke support, below the 2011 low now... Possible rebound between 117.45 and 104.56. Beyond that we have the next abvious support at the 2008-2009 level...

We have to keep instruments like this under a close eye over the coming week. Although a lot of indicators and paterns pointing to a breakout, it is clear that Brexit worries are keeping it down for now. I expect it to be a flat week until Thursday evening/Friday Morning of the 24th. Neautral But I like the repeating Head & Shoulders bottoming patterns!

I have had BARC in my sights for a few months now and it is starting to pick-up. Will continue to see what happens from next week but we could see a bottom here.

Pattern – Falling trend line intact, possible inverse head and shoulder formation ahead Support – 159.35, 152.70, 148.25 Resistance – 162.63 (50-DMA) 177.55 (10-DMA + falling trend line), 183-185 (possible inverse H&S neckline Again, failure to take out falling trend line resistance if followed by a daily close below 50-DMA would add credence to the bearish ...