ORE now at 50% Fibonacci Retracement level, no sign of life yet

ORE has finally touched the 50% Fibonacci Retracement level and kissed the Kijun Sen line. At this point we will monitor ORE closely since this line could be a jumping board but since today’s candlestick did not show any bullish reversal pattern, we still have to wait for another day. If in case no good pattern will appear, there is a great chance ORE will continue to move down and hit the Kumo or cloud. The flat cloud is also an attractor of price just like the Kijun Sen line when it move horizontally.

RSI or Relative Strength Index is near oversold level but is still pointing down.

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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