RWM about to touch 78.6% Fibonacci Retracement level

RWM doesn’t have a reversal pattern yet but as it dip closer to the 78.6% Fibonacci Retracement level it is worth monitoring. If we will see a bullish reversal pattern from our candlestick this week then we might see a bounce for RWM. The Kijun Sen line which is moving horizontally at 9.89 may pull the price closer to it and if price will continue to move upwards, we might see it reach 10.5x. But in case it will get sour, our next support will be at 8.60.

RSI or Relative Strength Index is at 37


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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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