From this morning's research note to clients.
SOL | Buy dips 278-280c. Note the 7-day RSI is 70 (‘Strong’ but nearing the ‘Approaching Overbought’ range. Could rally to 295 at which it could be in the ‘Approaching Overbought’ range. This is also in line with the downward trend line connecting the peaks from 14-October.
'This note is geared toward ultra short term/active traders. In addition, the instruments covered assumes no existing positions held by the trader i.e. the next best buying level or next best selling level.'
SOL | Buy dips 278-280c. Note the 7-day RSI is 70 (‘Strong’ but nearing the ‘Approaching Overbought’ range. Could rally to 295 at which it could be in the ‘Approaching Overbought’ range. This is also in line with the downward trend line connecting the peaks from 14-October.
'This note is geared toward ultra short term/active traders. In addition, the instruments covered assumes no existing positions held by the trader i.e. the next best buying level or next best selling level.'