Strong resistance at 0.96

SLI went up today by 4.4% to close at 0.94 per share. It wasn’t able to sustain its rally when it hit 0.96 per share but still SLI looks bullish. Notice how the RSI line bounced and is currently pointing upwards after it hit the support slope.

The 0.96 per share is a strong resistance for SLI as you notice on its weekly chart we have the flat Kumo resistance the price to go up for 3 weeks now. If the bulls will be able to break this line then we will see SLI to hit 1.06 but a bearish mood will bring SLI down to 0.90 – 0.87 area.

RSI or Relative Strength Index is currently at 65

Caveat!

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