tuesday, page-123

The chart below is XAO and I use a 5 period RSI mainly as a trend indicator.

A triangle has formed and a breakdown would be significant.

To change trend you really need a good close below 20.

You can see how by mid March the move was above 80 and so the trend had changed to up. A move to just above 20 is just a correction in a bull.

Of course a move below 20 would be oversold and normally a multi day bounce would occur but it would suggest an initiation had begun and the trend had probably changed.