ORE touching the 78.6% Fibonacci Retracement level

ORE touched the 78.6% Fibonacci Retracement level today as it fell by 7.1% at the close. Is this the bottom for ORE? We don’t have any bullish pattern from our candlestick as of today but this is worth watching tomorrow since we have a Marubozu candlestick which can be partnered by a candlestick that will form a bullish reversal pattern plus it is at the support line. In case bears will continue to be strong tomorrow, then next support will be at 1.51 per share.

RSI or Relative Strenght Index is now at 27.

Caveat!

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