If we start by looking at the RSI oscillator at the bottom we will see that there is a light blue horizontal trend line at the 45 RSI level.
If we look backwards along this trend line we will see many occasions where the 45 RSI has acted as both resistance and support.
Now if we look at the Yellow Arrows we see that each time the RSI has broken upward here with convincing strength, the following price action was notably bullish.
Furthermore if we go back to November 2017 we will see that we bounced off of the 45 RSI before we went to All Time High.
What does it mean?
Keep a very close eye the next few days to see which way this indicator breaks..
If we look backwards along this trend line we will see many occasions where the 45 RSI has acted as both resistance and support.
Now if we look at the Yellow Arrows we see that each time the RSI has broken upward here with convincing strength, the following price action was notably bullish.
Furthermore if we go back to November 2017 we will see that we bounced off of the 45 RSI before we went to All Time High.
What does it mean?
Keep a very close eye the next few days to see which way this indicator breaks..