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.
- Breakout of 0.21 and continue its move to 0.23 and 0.25
- Breakout of 0.21 and retest of 0.21 before moving up again
- 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.