Yes possibly,
sorry I haven't been following RXP very closely for a while now,
but yes, I agree that a watch is the most appropriate measure at this stage.
To be honest, this thing should really have responded positively by now, and maybe it still will...........
However, the longer it goes without accelerating away from the danger zone, the higher the chance it will not find the strength to do it at all.
At best, this might lead to price just trading in a range while it consolidates the recent rise in price,
and at worst price will breakdown and come back and test the 50% level (or more).
I pointed out a few times during that 'bar to bar' analysis (earlier on this thread), that when trading became confusing and price was not responding as expected, it often meant "something out of the ordinary was going on" , and on that mystery chart it was either accumulation or distribution each time.
Once confidence that the price action will respond as expected is lost, best to sit on the sidelines and watch for a bit......or trade something else for a while.
It is not uncommon for price action to be unclear from time to time, it will usually all become clear again pretty soon,
but during those times when trading is unclear is not recommended you hold positions, other than long term ones.......
cheers
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