Barclays (UK), Can barclays go to £5.00?

Barclays is currently showing signs of exhaustion after its massive rally from a double bottom @ 50p back in March 2009.

Have these banking stocks come up too far too soon, the chart will tell us all.

Barclays is surrently forming an inverted head and shoulders formation, please see chart.

resitance area @ £3.90

support area @ £2.60

If we fail at £3.90 and we are already seeing early signs of failure, then my downside target is £2.60. the back drop is not looking good fore equities with the huge run up, some consolidation is long over due.

Keep watching this chart formation folks