Rex (technical)

Rex: broke the $0.53 immediate resistance today on strong volume which might not be a good sign. Range would now be $0.50 to $0.53. As long as $0.53 stays as new resistance, more downside still like especially if $0.500 CRITICAL SUPPORT breaks down. Both MACD and RSI trending downwards with no sign of reversal as of yet. Reasonable downside target would be $0.44 then $0.40 which is a new trading low. The rest of the E&P plays are also in the red today, following the another sell off in crude oil overnight.