GDX Daily RSI 14 is at 49.27–below 50
1st time has breached 50 to the downside since January…
Of course, not valid till EOD…
RSI 14 48.88 at 11:52 AM
1st time has breached 50 to the downside since January…
Of course, not valid till EOD…
RSI 14 48.88 at 11:52 AM
Which means you should be buying here! We all talk about buying the dips in an uptrend but when the rubber hits the pavement few have the stomach to do it.
Absolutely–when the red line is breached to the upside…just waiting for confirmation from my perspective. You could absolutely be correct here. We are technical analysts not prophets.
Certainly not prophets, just opining on good risk/reward entries and exits. The best we can do is edge the probabilities slightly into our favor and act appropriately (i.e. preserve precious capital) when we’re wrong.