Razorsedge1889

#RRE confluence on long and short term fibs at £14.90

LSE:RRE   None
#RRE The move from pre-suspension (£7.70 low) to the high on the opening day (£22.10) has the 0.5 fib at £14.90 and from the most recent low (£16.60) to the £23 high has a 1.272 fib of £14.90 Both of these markers were tagged today. Hopefully this confluence of short and long term trend is the bottom? The fib from the opening day trading (open of £17.50 to close at £22.10) has a 1.618 extension at £14.70 too so there is a lot of confluence in this area. If this pattern holds then £16.60 should be first resistance. Every time RSI has been down at 25 it has bounced to an RSI of 80 or more (October 2017 onward shows this). Hopefully this is the correct pattern in play and all long holders get some rewards.

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