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Barclays Share Price Forecast: This Could Be The Last Chance For The Bulls

Barclays (LON: BARC) share price is knocking at a critical resistance and a rejection may lead to lower price levels in the coming days and weeks. This is the 142p resistance level which was previously a strong support level.

The shares of the British financial giant closed at 140.2p on Monday as the FTSE 100 index reflected a bearish sentiment in the market. The benchmark index in itself is at a key breakout point and is awaiting some bullish momentum.

Technical analysis of LON: BARC validates this cautious outlook as the price can be seen struggling to break above the above-mentioned resistance level. However, a breakout above this level might throw all the bearish theses out of the window.

Barclays share price technical analysis
LON: BARC Analysis

The chart above shows the price action of the bank stock in the 1D timeframe. Each candle encapsulates the price action for a whole trading day. The 142p level is the lowest point of the range from which the Barclays share price broke down in October. Only a reclaim of this level can flip the outlook bullish again.