Royal Mail Daily Technical Analysis | 1 November 2017
2017-11-01 08:29 am | Resource: Technical Analysis Section | No Views : 315
Currently, the British share is trading at the highly important 370 Euro level, which in case of a break, the position of the shareholders will be very negative.
The MACD is a negative cross and the histogram columns are decreasing below the zero indicating a growing weakness of the bulls in the stock and their lack of tricks in front of the bear.
It is expected that if the British stock breaks the level of 370.06 Euro might target 360.50 levels on the other side, if a breach of 380.31 might target 390.24.
Support: 370.06 - 360.50 - 355.39
Resistance: 384.66 - 394.39-402.49
European markets started trading Wednesday in the red, led by the financial sector after US President Donald Trump failed to ease trade concerns. Speaking in New York, Trump renewed his threat to increase Chinese goods "tariff" significantly if there is no agreement. However, he said the United States and China were "close" to signing the first phase of the trade agreement. During his New York speech, Trump stressed that Beijing…
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