There are many indicators that utilize the number 50 and the RSI (Relative Strength Index) is no exception. During the day I received a few questions surrounding the use of RSI as it ventures into this mid-point of the range (50) and thought I would address it here in a post.
The following Weekly chart is of DB (Deutsche Bank AG) and shows a clean move to 50 and then a rejection:
I also not the recent range in the Green box and how it touches the 50% retracement today and bounces. The pullback today was on Advancing volume so that is worth noting as a side point. Also on the chart is the 50 Day Moving Average above, just one more Fitty to be aware of.