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Silver Bar Reversal

Quick find code: 17-18-322-66219800

Aeyrl
Sep Member 2023

Aeyrl

Posts: 10 Bronze Posts by user Forum Profile RuneMetrics Profile
Silver bars have been on quite a fall after their recent meteoric rise. They have gone heavily oversold over the past few days and look to be reversing. I am thinking silver bars will see a 20% increase over the next 2 weeks.



RSI is calculated over 14 periods here.

(I'm a bit new to posting, so hopefully the image works. If not I'll try to fix it. Link is https://i.imgur.com/N5FFWS2.png)

22-Jun-2021 00:08:37

H Rassy
Sep Member 2023

H Rassy

Posts: 17,469 Opal Posts by user Forum Profile RuneMetrics Profile
Rsi is an interesting indicator,not sure how usefull it is for runescape and specially bulk items with a relatively low volume as death runes.

The way i use rsi in general is probably a bit different then most people. I use it more as an indicator which shows diversion and not as an indicator for tops and bottoms. (and that diversion i then use as an indicator for the market).

-When the rsi drops but the market barely drops i see that as a positive diversion. Indicating a potentially strong rise when the rsi has bottomed out and starts to rise again.
-When the rsi rises but the market barely rises i see that as a negative diversion,indicating a potentially strong drop when the rsi has peaked and starts to drop again.

With this you have to be patient as in these situations there often is a relatively short but somewhat strong move at the end of the trend before the rsi finally reverses.

I dont know if they will go up again,maybe they will.

22-Jun-2021 10:53:17 - Last edited on 22-Jun-2021 13:58:53 by H Rassy

Aeyrl
Sep Member 2023

Aeyrl

Posts: 10 Bronze Posts by user Forum Profile RuneMetrics Profile
I have no idea how useful it will be overall. The items seem to trend in one direction a lot and many don’t change price each day which makes RSI a little wonky sometimes. Here it is on silver ore.



I like your thoughts on how you use rsi and after thinking on it, I’d agree with you and believe that is another good way to use it. If a price drops and then levels off without coming back up much at all that usually shows weakness and vice versa on a rise in price.

For silver bars RSI seems to be a good indicator of a near bottom. I added in some data callouts to show where it goes oversold and in one instance it takes longer, but pretty closely after an oversold condition, it moves upward well over the entry point.

22-Jun-2021 17:02:54

Aeyrl
Sep Member 2023

Aeyrl

Posts: 10 Bronze Posts by user Forum Profile RuneMetrics Profile
Closed out my position on the bars a couple days ago selling at ~850. I could have held out for more, but didn't expect the upswing to be as quick and violent as it was. I would expect a bit of a pullback here, but am not convinced either way.

12-Jul-2021 17:30:34

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