VanEck Semiconductor ETF
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SMH rallies to new highs with room to go

22
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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