I notice that there is a DOUBLE EXTREME indicator on two consecutive days. Does the second DOUBLE EXTREME indicator cancel out the first, or change the trend in any way?
We interpret it as a confirmation that we are still in an "extreme" situation. Please note that this indicator is generally dedicated to spotting short- and medium-term bottoms in mining stocks, and works on gold and silver anyway, because they are so closely tied to them, at least in the short term. Consequently, when looking at the signal and estimating if it's a buy or sell signal please take into account the previous move in the miners. Without a doubt, the recent move in miners was down, so we view the signals as bullish.
For more information on our indicators, consult our precious metals indicators charts.
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