Rex Intl – [ Strong Resistance at $0.21, Will It Clear Soon? ]

19th February, 2020, 6:57 PM

Rex Intl – [ Strong Resistance at $0.21, Will It Clear Soon? ]Rex Intl 19th Feb 2020

Chart Source: Poemsview 19th Feb 2020

Rex intl just released some piece of news recently that their subsidiary achieves successful oil flow from Yumna 1 well in Oman. More can be read here.

After the news Rex saw a gap up to 0.189 and pushed up to 0.21. It is now at a strong resistance and testing it twice. It had previously tested the 0.21 five times and was unable to break. For this round, we’re quietly optimistic about a breakout and are looking for targets of 0.23 and 0.25. Some possible scenarios we’re looking at.

  1. Breakout of 0.21 and continue its move to 0.23 and 0.25
  2. Breakout of 0.21 and retest of 0.21 before moving up again
  3. Fail to break 0.21 and start retracing before another attempt.

We’re watching Rex closely.

Drop us a message if you like to know more about Rex.