As SLV starts to rally and quickly becomes overbought due to recent low volatility, A good indicator to watch now is the BBW. I track it in Excel with the formula stdev(range). As this indicator continues to expand, it shows me that price is moving away from the moving average at a pace quicker than the moving average is rising. As long as this indicator is rising, one wants to stick with the trend. When it reverses, price generally will revert to the moving average or sometimes even reverse to an opposite (oversold in this case) extreme.
Happy Holidays everyone
Happy Holidays everyone
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.