RAC - Charts & Price Action, page-6770

Well last week has been well summed up and is now history.

We now have 3 more days until the end of the financial year

The middle ground of the Keltner Channel and our 1st Support Point have something in common $3.65.

1st Support Point $3.65

2nd Support Point $3.61

At $3.60 we will hit a 50% Retracement From 4 Week High

Tomorrow will most likely be a repeat of Friday with low volatility and volume as the seller tries to lift the price in the morning only for it to move down ward during the afternoon.

With the limited number of buyers and sellers and the bots playing both sides of the market most people are sitting on the side line watching.

There is now a watch on the lower Bollinger band as it approaches the Keltner Channel with a Squeeze now starting to take shape.

With both the Daily and weekly MACD red we currently have a short term signal for lower prices I am now looking for confirmation from the Bollinger and Keltner channels as the ongoing selling is playing havoc with market forces and normal end of year sell downs.

The next couple of days will give us a better picture of what is going on.



all the best


FireflyOne
The writer's opinions are his own and do not constitute financial advice in any ways.Nothing here constitutes an investment recommendation nor should anything written here or published by myself be relied upon for any investment activities.I strongly recommend that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.