$FIL daily RSI is 23.7, in oversold territory, with the current price at 0.6097.
Let's break this number down.
Wilder originally designed RSI for futures markets, and today almost all charting platforms include this indicator.
Many people pay more attention to the moment RSI moves out of overbought or oversold territory—for example, when it falls from above 70 to below 70—rather than trading against the trend as soon as it enters that range.
The same reading can mean completely different things in different market conditions, so don't blindly apply a single rule of thumb.
#FIL
Take this as something to listen to, not a buy recommendation. Make your own judgment.
Let's break this number down.
Wilder originally designed RSI for futures markets, and today almost all charting platforms include this indicator.
Many people pay more attention to the moment RSI moves out of overbought or oversold territory—for example, when it falls from above 70 to below 70—rather than trading against the trend as soon as it enters that range.
The same reading can mean completely different things in different market conditions, so don't blindly apply a single rule of thumb.
#FIL
Take this as something to listen to, not a buy recommendation. Make your own judgment.
