REC Update

REC as discussed in the last post is due to start wave 3. In the short term it continued to form a triangle at the end of wave 2, thus retesting the support. The low of the wedge at 97.85 is then the low of wave 2, and from there 3=1 is at 138. Today the daily momentum crossed over to the buy side as prices maanged to close above the 20/40 day moving averages.