A new reviewed chart analysis of RR after the market closed for the day, but before the market opens.
Trend + FEMA Signals
- Short-term EMAs (10, 20) have crossed above long-term EMAs (50, 100, 200) — early trend reversal sign.
- All FEMA lines are stacked in bullish order for the first time since early June.
- Price briefly pulled back to the 20/50 EMA zone and bounced — potential retest long.
Key Support & Resistance Zones (Confirmed)
Your orange lines match well with price reaction points:
| Zone | Status |
|---|---|
| $1.80 | Strong base support |
| $2.28 | Retest zone — currently reacting |
| $2.40 | Near-term resistance |
| $2.47 | Failed breakout zone (June) |
| $2.80 | Major resistance, former peak |
The current battle is around $2.28 — minor retest after the rally.
Momentum Signals
MACD (Middle Panel)
- MACD line crossed below signal line = weakness, short-term pullback starting.
- However, it’s above zero, meaning the trend is still bullish overall.
- Could reset and curl back up if price holds above EMA20/50.
RSI (Second Panel from Bottom)
- RSI pulled back from just above 60, now hovering near neutral (50).
- No overbought or oversold condition.
- Slight bearish divergence vs price — worth watching.
Volume Insight
- Volume spiked sharply during the July 22–23 breakout attempt.
- Pullback volume is lighter, which supports a healthy retest scenario.
Updated Summary: Trade Setup Checklist (Retest Long)
| Criteria | Status |
|---|---|
| Price above FEMA stack | ✅ |
| FEMA 10/20 > 50/100/200 | ✅ Bullish |
| Breakout above $2.20–2.28 | ✅ Done |
| Retest of breakout zone | ✅ Happening now |
| Volume drop on pullback | ✅ |
| MACD confirming uptrend | 🔲 Not yet |
| RSI supportive or trending up | 🔲 Neutral |
Conclusion:
- The move still looks valid as a retest long.
- Price is pulling back into a bullish EMA zone with lower volume.
- MACD and RSI are cooling off, not reversing.
You could:
- Watch for MACD curl-up or bullish engulfing candle on the 1H.
- Consider planning a long trade if it holds $2.14–$2.20 and reclaims $2.28.