Failure at the rising trend line resistance coupled with the falling top formation on the daily chart suggests the share price is on track to test the 200-DMA support seen today at 687.31.
The 50-DMA has topped out as well and that adds credence to the bearish view.
Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher.
That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for...
Again UK share to take good opportunity on short trade. Price do big move down on W1 chart, then correction and now possible secound move down. Furthermore price pullback from W1 and H4 resistance. Signal to open trade from H4 chart.