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
