REL.L closes lower for the 4th day in a row
RELX Group (REL.L) Technical Analysis Report for Sep 14, 2018
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.
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.
Prices are trading close to the key resistance level at 1611.50.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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