$REI CONSOLIDATES IN ITS RANGING MARKET STRUCTURE
REI has decided to follow a ranging pattern inside the designated price range shown in the chart after being rejected at this year's high. This implies that there might be a chance for a breakout or breakdown when the current range market structure ends. Even though prices might experience another correction, the likelihood of a breakout appears to be higher because market mood is still very strong.
Stay wise, trade cautiously.
