RSR moved 8%. What's next?

RSR Analysis


9/27/20220 min read

This is an RSR idea.

RSR just made an 8% move up and got rejected after reaching the local resistance area.

It is still bullish, considering how the Bollinger Bands are expanding, and the price is pushing up the upper band.

There are two possible scenarios for now:

Scenario One:

The price will move a bit longer above the local support area and reach resistance levels.

Scenario Two:

The price will get rejected by the upper Bollinger Band and fall on our support levels.

RSI is near the oversold area, but the price has more room to go up.

Now let's see your ideas. Let's have a discussion.

Let me know if you guys have any questions;

I will be more than happy to help.

Good luck, and thank you.