REL.L closes lower for the 4th day in a row

RELX Group (REL.L) Technical Analysis Report for Sep 14, 2018

Highlights

REL.L closes lower for the 4th day in a row
REL.L breaks below previous session low
REL.L falls to lowest close since June 26th

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

Moving lower for the 4th day in a row, REL.L finished the week -3.66% lower at 1591.00 after losing £11.00 (-0.69%) today. Today's closing price of 1591.00 marks the lowest close since June 26th. Closing below Thursday's low at 1597.00, the market confirms its breakout through the previous session's low having traded £12.00 below it intraday.

Daily chart for REL.L

Volatility

Friday's trading range was £25.50 (1.59%), that's slightly above last trading month's daily average range of £22.57. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to the key resistance level at 1611.50.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for RELX Group

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