On Friday, KIO printed an inverted hammer candle formation, having traded into the underside of it’s declining 200-day simple moving average. Of interest is the 1-day volume increase despite – tis despite the fact that it was a UK bank holiday (offshore being responsible for a large portion of our volumes traded). The RSI is strong however is becoming moderately overbought with a 60 print. In addition, the RSI is printing a slightly lower level that the prior swing high. Currently (last close) at 36333c, the 37600c-37900c range should monitored as a potential distribution zone.