The overall trend is up and the RSI is showing a buy signal.
BUT...
It recently gapped down and that is always a bearish signal.
So what to do you ask?
Wait for confirmation of course.
The trend up will continue if it closes above 20 and this is where I would open a position.
It may be a little premature to short this because of the strength of this uptrend.
I'll keep updating as the signals become more clear.
HAPPY TRADING!
BUT...
It recently gapped down and that is always a bearish signal.
So what to do you ask?
Wait for confirmation of course.
The trend up will continue if it closes above 20 and this is where I would open a position.
It may be a little premature to short this because of the strength of this uptrend.
I'll keep updating as the signals become more clear.
HAPPY TRADING!