In trading on Monday, shares of the Daily Junior Gold Miners Index Bull 3x Shares ETF ( JNUG) entered into oversold territory, changing hands as low as $13.15 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.In the case of Daily Junior Gold Miners Index Bull 3x Shares, the RSI reading has hit 28.7 — by comparison, the RSI reading for the S&P 500 is currently 64.5. A bullish investor could look at JNUG's 28.7 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), JNUG's low point in its 52 week range is $12.80 per share, with $43.14 as the 52 week high point — that compares with a last trade of $13.10. Daily Junior Gold Miners Index Bull 3x Shares shares are currently trading down about 12.7% on the day.