Depends on the person trading it. It's trending hard right now because of catalysts but as the days go by it'll even out more because the days that it was lower will be cancelled out.
RSI works on a 14-day (typically) formula. Right now the RSI is calculating the periods when we were in the 40's. Clearly that time-frame is no longer where we are supposed to be considering the upcoming catalysts.
This is why the RSI should only be used to confirm a strong uptrend at the moment. You and I and everyone else knows there is a lot pushing this and we haven't even reached that cause yet.
That's why, while a red day might happen (I though it would be yesterday, I was wrong obviously) this is going to keep going. Even if it hits some red today, I know it's not going to stay there simply because of the catalysts.
There's too much driving this. It's basically a price correction and we're just riding it to where it should be, which is much higher than it was and still is IMO.
The catalysts are strong in this one! LOL Go SFOR ;-)
RSI is at 86 now BTW :)
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