Faster (14 period RSI) analysis:
RSI finds it's way back to the breakout from the end of March. Since then it has come close to the line on only one occasion, in the end weeks of April. it did not perfectly touch the line, but I still see it as a valid reason to mark it on the chart. As of right now it is back at the green line and does it's best to hold above it. When successfully held, expect higher prices or at least sideways movement.
Slower (26 period RSI) analysis:
This one takes us back to the beginning of the year, when RSI broke down (area marked with red circle). RSI then found resistance on two occasions, once a week later since it broke down with a nice touch, and second time in the middle of March when RSI formed a double-top. Finally found it's way above the line in the end of March the same way as faster RSI did. Recently it found support a month ago with a nice touch and as of right now is back at the same point.
RSI finds it's way back to the breakout from the end of March. Since then it has come close to the line on only one occasion, in the end weeks of April. it did not perfectly touch the line, but I still see it as a valid reason to mark it on the chart. As of right now it is back at the green line and does it's best to hold above it. When successfully held, expect higher prices or at least sideways movement.
Slower (26 period RSI) analysis:
This one takes us back to the beginning of the year, when RSI broke down (area marked with red circle). RSI then found resistance on two occasions, once a week later since it broke down with a nice touch, and second time in the middle of March when RSI formed a double-top. Finally found it's way above the line in the end of March the same way as faster RSI did. Recently it found support a month ago with a nice touch and as of right now is back at the same point.
