RajDhall

Consolidating for now might move higher later #RRS #UKshares

LSE:RRS   None
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Recent price action in the Co.'s shares has been bullish since the start of the year, Price has push but fell short of testing the 8000 level. The miner has now now found itself in a consolidation range between 7585 and 6800 and is largely dictated by volatile gold prices. At each end of that range we find price stick between areas in which many shares have been traded at price. Where 7400 and 6800 both represent mean value in previous consolidation periods. The RSI is just hovering in bullish territory above the 50 level but this came after a bullish hidden divergence was observed around the Mar 12th when it entered the oversold area, this is traditionally a bullish sign and it seems the market are looking to settle around the 7000 handle.

Kind regards

Rajan Dhall MSTA
fxdaily.co.uk