Not a Crash, Not a Rally; Just a Warning!
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What traders need to accept now is that 45 out of 46 sectoral indices are in negative RSI territory. Let us keep the charts aside because if I post the chart, the reader may analyse as per his knowledge and concludes the view.
According to the most recent RSI levels on the daily Heikin Ashi chart of 46 sectoral indices, 45 sectors have an RSI structure that is lower than their RSI averages. Only one sector, PSU Banks, has a new RSI crossover that is positive. Take a moment to think about that.
Read article here: https://www.definedgesecurities.com/blog/education/not-a-crash-not-a-rally-just-a-warning/
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very interesting !
