Russian Stocks' Steady Swings From Overbought to Oversold: ChartBy
A 42 percent rally in Russia’s dollar-denominated RTS Index from late January pushed its 14-day relative strength index above 70, the velocity measure’s overbought line. Technical analysts consider that a bearish signal. Each time it has breached that RSI level since 2012, it has taken three months to fall below 30 into oversold territory, a bullish signal.
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