RELX eyes on $50: round number supported by Major Fib zoneRELX has been pulling back from its record highs.
About to hit a major support zone $50.03-50.38
Looking for a clean bounce or not interested.
Market insights
RELX eyes on $55.85: Genesis Fib might give a Dip BuyRELX flying to new ATH's since the tariff bottom.
Nearing a Genesis fib at $55.85 that might hold.
If it dips, watch fib at $52.81, or zone $50.03-50.38
Potential Short on RELX
RELX is currently in an ascending wedge with bearish RSI divergence. Look for a break of trend or pullback to supply zone for entry, stoploss at last swing high with target at bottom of wedge also could be a bigger move if breaks down out of wedge so will be using a trailing SL if it gets there, moving SL to BE when safe to do so.
W4 TriangleThis bullish momentum finally breaking out this W4 triangle should see new highs very soon!
RELX At Exceptional Risk/Reward For A Short Here. Bullet Catch.RELX has performed a liquidity sweep above previous ATH and is setting up for a lovely example of what I like to call a bullet catch pattern. The catch is considerably wider than the impulse move (bullet). The street trapped retail traders above the ATH in longs and can now flush this thing. The key here was the candle BODY close below the orange line. That was the start of the setup.
RELInfo only, not advice
MACD bullish
In an upward trend and clear line of resistance coming up to break through
Relx moving up in ascending range Not one that we are trading at present, but a decent ascending range for any swing traders looking for a scalp on a 4hr or daily timeframe to the top of the range in the coming days - depending on gov news and FTSE reaction.
RELL (RELX PLC) RELL offering a good buy opportunity with very little room for downward movement (based on previous price action). While the Trendline break on 11th October indicates a sell, It was caused by the downturn in most public stocks during the Month of October, and is being viewed as a buying opportunity. It remains below most moving averages (50, 100) meaning there is a lot of room for bullish price action, and previous highs support this. Oscillators support a bullish trend, however they also indicate a short term move to the downside (an estimate of 3%).
RELX (NL): Continuation PatternThe consolidation pattern (triangle) on the daily chart has formed just above the cloud support on the weekly chart. Triangles are often - but not always - continuation patterns, especially when forming within a strong trend, in this case a down trend. In other words, we expect the triangle to lead to more weakness over the coming days and weeks. Dipping below 16.40 completes the pattern and will subsequently extend the down trend towards 15.35 and 14.65 after that.
Note that such a decline will also lead to a convincing move below weekly support levels and thus ring in a longer term corrective phase as well. Weekly indicators are already weak and full of divergences, so the total bias is certainly concentrated on the down side.
Above ~17.45 things return to neutral and uncertain.
EURONEXT:REN
Relx ~ Long Swing TradeWedge breakout. Capture gains from bullish channel swing. Hold until resistance/ RSI reversal. Place stop loss at 1715.
3 risk/reward ratio
