Today's market-watching trivia: $ENA 4-hour RSI is 24.6, entering oversold territory.
RSI 24.6, and my confidence has sunk right along with it.
A quick serious explanation: “overbought” means prices have risen too quickly and too sharply in the short term. It doesn’t mean there are too many buyers, nor does it mean prices are about to fall.
Multiple indicators corroborating each other is more reliable than looking at just one, but even a bunch of signals can’t give you a definitive answer.
RSI 24.6, and my confidence has sunk right along with it.
A quick serious explanation: “overbought” means prices have risen too quickly and too sharply in the short term. It doesn’t mean there are too many buyers, nor does it mean prices are about to fall.
Multiple indicators corroborating each other is more reliable than looking at just one, but even a bunch of signals can’t give you a definitive answer.
