RRL inv H + SRRL - gold miner
break out of an inverse head and shoulders pattern
which is a very reliable pattern.
target circa $2.80
long term hold till $5.50
strong support @ 1.30
inverse h + sdaily chart has a breakout from an inverse h + s pattern.
This is a very reliable pattern.
Hold on this RRL for a long term period and sell
when price hits circa $5.50
Most ASX gold miners are at a breakout level.
triangle setups etc.. GOLD will head higher tonight
as the CPI data will be released.
RRL is reaching to a critical zone...
Take a closer look at the highlighted area in which, four different lines are acting as a support...
REGIS RESOURCES LIMITED RRL(ASX)
ASX:RRL
Regis Resources Limited (RRL) - LONGRegis Resources Limited (RRL) - LONG
Regis Resources, together with its subsidiaries, engage in the exploration, evaluation, and development of gold projects in Australia. The company owns 100% interests in the Duketon project located in the North Eastern Goldfields of Western Australia; and the M
RRL.ASX_ShortENTRY: 3.54
TP1: 3.09
TP2: 2.34
SL: 3.85
- ADX<25. Would like to be higher for momentum.
- RSI<35
- FFI and RS -ve
- MAs are aligned
- Break-down with decent volume
RRL - Giving a Buying OpportunityI believe RRL is giving a good medium term buying opportunity, as it had pulled back into Support and after some days of consolidation, it is showing Bullish Price Action. Price has broken the green downward sloping trendlinewith High Volume which is why I am confident that now it is ready to go up
Just following the recipeASX:RRL
All boxes checked for an entrance.
Entry: $5.37
First Target: $5.59
Second target: $6.20 ish
Let's see what the future says.
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