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Politics : Technical Analysis

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To: ryback who wrote (4063)3/1/2013 7:56:28 PM
From: Robov  Read Replies (1) of 14245
 
Well looking at the weekly going back to 9/4/09 the HUI hit a low that week of 347.26 and had a weekly RSI of 64.44 having reached a high of 411.73 and close at 409.06 by the end of that week. We had a low this week of 150.78 and a close at 151.78 with a weekly RSI of 25.74 and a daily of 27.66. Beyond this level there is another level of support at the 336 level. But you get to a point of oversold where you just can't draw anymore blood and I think we are very close to that if not there. At the very least a bounce is in order sooner rather than later.
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