RHI - Invertered Head and Shoulder
RHI Magnesita is in uptrend forming Higher High and Higher Low in longer time frame.
Price has revered from important and Golden Ratio of Fibonacci - 50 and 61.8.
In shorter time frame it formed Inverted Head and shoulder chart pattern which indicate that price will continue their uptrend in shorter to mid term trend.
If price pierce the neckline above 645 then one can initiate a long position with SL 637 and Target of 740, 820 and 900.
Price has revered from important and Golden Ratio of Fibonacci - 50 and 61.8.
In shorter time frame it formed Inverted Head and shoulder chart pattern which indicate that price will continue their uptrend in shorter to mid term trend.
If price pierce the neckline above 645 then one can initiate a long position with SL 637 and Target of 740, 820 and 900.
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