Is LR at the bottom already?

LR is currently supported by the 50% Fibonacci Retracement level and it seems the bears are already tired of pulling the price down. Is it time for LR to bounce? LR may bounce up to 7.72 – 8.00 and from there we will see if the Kumo is going to resist the price to continue going up. But if price will break the 7.14 support, we might see LR to dip down to 6.83

RSI or Relative Strength Index is now at 16

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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