RELIANCE SPOT

RELIANCE HAS BROKEN BELOW ALL ITS HOURLY EMAS....... AND ON A DAILY BASIS, IS BELOW THE 5/20/50 EMAS . ALTOUGH 200 EMA IS WAY DOWN AT 1700/...... WHAT NEXT IS THE QUESTION??????? PLEASE LOOK AT THE WEEKLY EMAS, AND YOU WILL FIND THAT IT HAS BROKEN BELOW 5 EMA ON A WEEKLY BASIS AS WELL, BUT THE 20 EMA ( WHICH IS ALWAYS A VERY STRONG SUPPORT/RESISTENCE POINT) IS AT 2040 APPRXX....... I AM HIGHLY OF THE OPINION THAT THIS IS THE ZONE WHERE IT WILL TAKE SUPPORT TO BOUNCE BACK AGAIN.....