All the other sectors of the Oil stock are falling apart. Low crude prices? Maybe another week of this sell off. There's maybe more downside in SP500 ( so far SPX gave back half of advance for previous 2 weeks). SPX could do double bottom at 1266, that means RD could go back down to $60 previous low, or even to $58.00 for July and move sideways.
RD bearish impulse wave down started January 13,2012 and finished with impulse wave five down at $60.62 last June 1,2012, then made a bounce short term abc rally wave ended at $68.34. My gut is telling me that RD could be making another a 5 bearish wave sideways to down for the summer.
$60 to $58 is not out of the question. Just my own opinion only.