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A quick look at the RSI indicator shows it has went below the 30 mark and like Aug 2015 period, it did not immediately rally but bottomed 6 months later in Feb 2016 where we witnessed an over 80% rally.
If you wish to take a long position, make sure it is for the long haul as we still have ongoing Covid cases in China (read here ), ongoing negotiations between Ukraine and Russia, forthcoming Fed's interest rates hike ,etc.
So, it could be quite volatile down the road. Tighten the seat belt and enjoy the roller coaster ride !
A quick look at the RSI indicator shows it has went below the 30 mark and like Aug 2015 period, it did not immediately rally but bottomed 6 months later in Feb 2016 where we witnessed an over 80% rally.
If you wish to take a long position, make sure it is for the long haul as we still have ongoing Covid cases in China (read here ), ongoing negotiations between Ukraine and Russia, forthcoming Fed's interest rates hike ,etc.
So, it could be quite volatile down the road. Tighten the seat belt and enjoy the roller coaster ride !
Note
going to add in tranches this week on HSINote
Praise God! Congrats to those who followed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.