RNN TRADE IDEA GK PLAY - PREV RESISTANCE BREAK
RNN has tried many times to break over significant
resistance at the 1.71 line established by previous
candlestick action, but has struggled to do so; however,
with a bullish RSI move over 50 and a bullish albeit small
signal on the Macd, the price action closing at that 1.71
mark could mean a break tomorrow, which might
convince bulls to buy towards the 100 moving average at 1.87.
Look for entry over this break or if price breaks down,
a possible bounce off the 20ma.
RNN has tried many times to break over significant
resistance at the 1.71 line established by previous
candlestick action, but has struggled to do so; however,
with a bullish RSI move over 50 and a bullish albeit small
signal on the Macd, the price action closing at that 1.71
mark could mean a break tomorrow, which might
convince bulls to buy towards the 100 moving average at 1.87.
Look for entry over this break or if price breaks down,
a possible bounce off the 20ma.