RL-Expects range-bound price action under 141.93/141.03
RL 130.50 – neutral – Expects range-bound price action under 141.93/141.03
RL recovered from the 103.29 low (September 2015) to offer scope for a return towards the 141.03/141.93 resistance zone (June 2015 high/May 2014 low) which may cap the bounce. A downside reversal below 111.65 (50% of the 31.22/192.03 rise) then 103.29 would risk further losses towards 95.59 (April 2010 high) near 92.66 (61.8% of the 31.22/192.03 rise).
Outlook:
Daily: bullish
Weekly: neutral
Monthly: neutral
RL recovered from the 103.29 low (September 2015) to offer scope for a return towards the 141.03/141.93 resistance zone (June 2015 high/May 2014 low) which may cap the bounce. A downside reversal below 111.65 (50% of the 31.22/192.03 rise) then 103.29 would risk further losses towards 95.59 (April 2010 high) near 92.66 (61.8% of the 31.22/192.03 rise).
Outlook:
Daily: bullish
Weekly: neutral
Monthly: neutral
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.