Putting RSI on Test for XMM.ASX

ASX Metals and Mining Index XMM, daily, weekly as well as monthly RSI readings are now over 70. Overbought within a major uptrend in all three time frames in short. Daily chart has a bearish divergence but we are yet to see a bearish pivot or similar 2 day reversal signal and RSI crossing below it’s OVERBOUGHT 70 level. I guess, matter of days and that may also happen.

I am at the opinion that a medium term correction within a major uptrend may have already started to work the current overbought conditions out.

I am only publishing the daily chart of XMM.ASX which is courtesy of www.tradingview.com

xmmdaily10012018

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