DAX “No longer oversold as we bounce from important long term support..” Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle


DAX SHORT TERM TRADER: Short at 11940; stop above 12240. First target 11600.

DAX POSITION TAKER: Short at 11940; stop above 12400. Target 11000.

RBS withheld information
Displayed a pattern of defensiveness

Nicky Morgan, Tory chair of the Treasury Select Committee, has accused RBS CEO Ross McEwan of ‘withholding information’ during January’s grilling by parliament over alleged bribery at its GRG restructuring group. She continues: ’’more generally, the committee is concerned by the pattern of defensiveness, and a failure to acknowledge mistakes, demonstrated by RBS throughout its handling of the GRG affair. Mr McEwan’s letter to me is an example of this, and it casts doubt on his assurances that RBS’ culture has changed fundamentally since he took up his position 5 years ago.’’

Reuters reports that dozens of fires have sprung up in suburbs of Boston, Massachusetts, caused by exploding natural gas pipelines. One person was killed, several injured, and hundreds have been evacuated. All gas and electricity to the area has been cut to stop further blasts. Fire investigators suspect the cause to be ‘over-pressurization of a gas main’.

Financial Markets and Political Commentary



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