SMH rallies to new highs with room to go
SMH rallied to new highs today and into higher trading area which originally appeared to be very overbought
- 1 hour interval shows both 10 and 20 RSI levels in overbought territory
- 2 hour interval shows 20 RSI having more room to grow.
- initially exited riskiest positions figuring on this new high being way outside the bounds of normal
- This is now looking to have some more room left in it.
- expect a small pullback or pullback in time over the next day or two.
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