ASX: RLE Real Energy and cruising along nicelyReal energy is still cruising steadily inside the channel. CMF shows that the market is pretty balanced for now. OBV is coming down a bit but as long as we don't break south in the gentle uptrend, we should be fine.
Prices are supported by the 55 and 100 EMA. I do hope that the 55 EMA catches up and cross the 100 EMA for a stronger uptrend. However, the Stochastic RSI is pointing down. This might signal that the 100 EMA might not hold and breaks down to the bottom of the symmetrical triangle at about 0.081.
Again, a break below 0.081 with confirmation spells bearish and invalidates this chart.
RLE
ASX: RLE Real Energy - warming us up this winterReal Energy (ASX: RLE) has completed drilling at its Windorah gas project and is moving towards diagnostic fracture injection testing after striking gas pays at its three Tamarama wells.
RLE should warm us up this winter.
1. TK crossed in the cloud signifies medium bullish signs
2. Chikun lagging span closed above price today - bullish sign
3. Price closed above cloud - bullish
4. RSI pointing up
Let's wait for confirmation before entry on Monday to see whether it will close above $0.1.
A break below $0.095 will invalidate this bullish outlook.
Set your stop-loss.
