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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: yard_man who wrote (5194)4/28/2004 10:04:26 PM
From: mishedlo  Read Replies (1) of 116555
 
Heinz on gold
Date: Wed Apr 28 2004 18:04
trotsky (XAU RSI) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
the RSI on the XAU daily has hit a level that hasn't been visited often in the past 20 years. namely, 20, approximately. it only fell significantly BELOW 20 on occasion of the '87 crash.
anyway, the good news is, that regardless of bull or bear market, such RSI readings have invariably been followed by a 30 - 50 point rally.
interestingly, today's RSI reading is the lowest in 6 years!
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