I agree with both of you, haha See chart below [IMG] -ives for...

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srm777

957 Posts.

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09/02/17

12:37

Post #: 22484963
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Originally posted by fightinggreed ↑

Hi V*,
I watch the RSI too. I find it a valuable tool in trying to find tops and bottoms. The one caution I would add to your last post is that it's quite hard until it starts to come down again, that the top is actually in. So for example, looking at the chart you posted, if you look at early February last year, the RSI crossed the oversold line when the GP was $1120, there had been a strong run already and it would have been easy to look at the RSI and feel like the top was in. But actually, the run continued and that run peaked at $1240 and from memory the RSI was around an astonishing 84. So if you sold as soon as the RSI became over bought, you missed a large part of the rally.

Turning to the RSI today, yes it's touching overbought, but there's no clear sign that it's turning. So my view is let your profits run for the moment.

Cheers,
Tim.

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I agree with both of you, haha

See chart below

-ives for POG
Upper Bollinger being pressed
RSI at overbought

+ves for POG
MACD above signal line and positive
DMI saying strong upward trend in place

So RSI and BB saying a small retraction on the cards, but i feel it will continue the run.
Unfortunately the USD may be starting to turn upwards, which could be the catalyst for POG to drop. Afternoon and overnight will be interesting.

srm777

BDR Price at posting: 37.3¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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