RXL: descending medium traffic.
Price around dynamic resistances (MA`s) and under diagonal resistance.
MA`s in bearish formation, as the price tests the 25 period and decreased underneath and under it the 13 period – a signal for new descending momentum.
Correction gives good places to sell in the direction of medium short.
CCI is below 9, which confirms our expectations for reduction.
Price action analysis: formation: Evening Star – reversing motion correction is most likely over.
sentiment : companies in the business sector continued to suffer a fall , expectations continue to decrease.
Stefan D. Angelov – Head of Stocks Trading