Is the market due another V-shaped bounce? | Michael Gable | Finance News Network

Is the market due another V-shaped bounce?

by Michael Gable

Our market has become oversold on the RSI for the first time since December last year where it went on to bounce over 300 points within 2 weeks. 

Key market stocks such as the banks have also moved into oversold territory, and BHP and RIO are sitting right on support. The market today, for the first time in 2 weeks is showing strength into the close. 

Instead of panicking and selling now, it is useful to look at these signs and make a measured decision. If cutting positions is your strategy, then better prices may well be around the corner here.

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