What does a RSI reading of 30 mean?

A reading of 30 or below indicates an oversold condition. The relative strength index (RSI) is a popular momentum oscillator introduced in 1978. The RSI provides technical traders with signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset’s price.

What does it mean when RSI crosses 30?

Generally, when the RSI indicator crosses 30 on the RSI chart, it is a bullish sign and when it crosses 70, it is a bearish sign. Put another way, one can interpret that RSI values of 70 or above indicate that a security is becoming overbought or overvalued. It may be primed for a trend reversal or corrective price pullback.

What is a good RSI period?

RSI Periods: By default, the RSI is typically set to a period of 14. However, this can be adjusted to increase sensitivity (with a lower period) or decrease it (with a higher period). The RSI is usually beneficial when used in conjunction with other technical analysis tools. Here's what the RSI looks like on a chart: