RRL has been in a steep downtrend for a couple of years, falling from the top of a large price channel to its lower boundary (although I'm not totally convinvced the channel placement is correct). With price having stopped at that lower boundary and moved up a little to break the downtrend there are buy signals galore here. I've shown both the long term chart of RRL as well as the more recent action in detail. Price needs to close confidently above $2.35 and if it can do that there is a potential target of $3.00. Coming off such a significant low this chart shows promise.

RRL 11Mar22

RRL2 11Mar22


Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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