I am seeing this as a double bottom reversal. Green box is my buy, and red line is stop loss. This is definietly a little more risky than usual. I will keep my stop loss tight if it decides to move upwards, as it will have to break the pink triangle, and there is also all the brexit rubbish going on. In all honesty I could have found a better trade, but meh, let's ...
UK banks outperformed the benchmark for UK shares during the rout in global stock markets that began in October. UK bank share prices are down over the past two months, but by less than the FTSE 100 index.
Positive expectations for stress test results have played a role in limiting the damage to UK bank shares.
1.Support broken Resistance validated
2.Weekly trend line validated (major validation)
3.Opposing level breached by short sellers (major validation)
4.Profit margin 1:2
Could see price Potentially move down to £59.90*
resistance seen @ £61.80 need to break £61.80 without any major retracements
if 66.21 breaks near term target towards 70.925 will occur. However, if support term 64.55 is breached below, then near term targets of 62.8 and then potentially 61.8 will occur I don't buy the rise! Ftse Is extremely overvalued IMO on current forecast increases on no valid thesis'.