Rejection at Resistance: $RLUSD Short Setup Unfolding
As price fails to breach 1.00 resistance, I believe $RLUSD has a high chance of retesting 0.9984 support, setting up a possible short trade.
Price rejected higher prices, SMA7 and SMA25 are converging, 10-bar trend is sideways, and volume is flat/falling.
A close above 1.00 resistance invalidates this short setup.
Will $RLUSD continue to retest support or break above resistance?
As price fails to breach 1.00 resistance, I believe $RLUSD has a high chance of retesting 0.9984 support, setting up a possible short trade.
Price rejected higher prices, SMA7 and SMA25 are converging, 10-bar trend is sideways, and volume is flat/falling.
A close above 1.00 resistance invalidates this short setup.
Will $RLUSD continue to retest support or break above resistance?