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Barclays Daily Technical Analysis | 11 December 2017

2017-12-11 10:16 am | Resource: Technical Analysis Section | No Views : 592

Barclays broke through the bearish trend line during morning trading last Friday and currently faces a resistance level 198.19 Euro which fails to penetrate

 Barclays Daily Technical Analysis | 11 December 2017

So far, the pair is still trading in a bullish direction over the hourly interval and the SMA is positively intersecting with the slow moving average and the intersection was confirmed by breaching the 195.53 level.
The rate of change 12, as is the case with no change, is still trading in an upward trend under formation and above zero due to the bull's control of the bank stock.
It is expected that if the breach of 198.19 is stabilized, it may target the level of 203.91 on the other side in case, a break of 193.46 might target 183.78.
Support: 193.46- 187.16- 175.58
Resistance: 198.19 - 203.91 - 205
Trend: Up


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