RDN Charts, page-474

G'day fellow RDN holders,
Thought it was worth another RDN chart post. Looking at charts can be a bit like reading tea leaves sometimes but still always worth a look IMHO.
What I find interesting about RDN at the moment is that I've overlayed a regression channel on RDN since the start of April. The regression channel is the white dashed lines with the upper and lower lines showing the 2SD levels from the mean price (the middle-dashed line). Price has been pretty consistently bouncing been the mean level and the upper price level for almost two months now.
If you look at the blue upward pointing vertical lines these indicate a day (or two) where we've seen the day's open and close generally below the mean (middle line) of the regression channel. In the days after a close and open below the mean level the price pushes back up toward the upper boundary of the regression channel. This price push back up to the upper boundary has been accompanied by significantly higher than average volume and once that volume dries up the price pulls back to the mean level. Friday last week we again saw the open and close of the day at a level below the mean price (middle white dashed line).
So personally, I'm anticipating that the price pull back we've seen over the past few weeks might be over and perhaps over the coming week we will see the price move back up towards the upper bound of the regression channel and so maybe we could see the price moving above the 0.055 level again--although I think we will need to see the volume increase again to get this push up to the next level.
Like I said, this is all like reading tea leaves to be honest so DYOR.
Let's hope we see a good week this week folks.