Thursday, July 12, 2012

Diamonds are forever (unless your name's Bob)

Barclays' share price continues to languish following the LIBOR revelations, and the subsquent resignation of their CEO.

There is still clearly a downtrend in play here, not only based on the system signals, but also the pattern of lower highs and lower lows, although it has shown signs of stabilising the last few days. The chart shows that ths will be an avoid for a trend follower on the long side for a while yet.

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