Thanks for the help Chartman

[awllee]

Hi All,
I was fortunate enough to have Chartman help me with some TA today and I'm just posting my chart since I wasn't very good in being able to understand instructions (no fault of Chartman as he was brilliant).. just me.
Chartman.. is this correct ?

Thanks

 

[awllee]

Since I posted this, RSI support was tested again and now has fallen through... RSI below 30 which indicates that it is severely oversold...

 

[ChartMan]

Yes,you got those lines just spot on. Be careful about declaring RSI <30 as well oversold. You need to take note of RSI values throughout the day. The low today was 12. Therefore you can't say 30 is oversold...... BUT next week, sometime, that statement may well be true. You will notice that today's low at 9180, RSI was at 12 again. Now you can say it's OS.