Any adjustments in the oversold or overbought
limit are prudential measures of the BSP to avoid "excessive exposure of banks" to FX-related risks particularly if this will hit its capital health.
On the MICEX market has to pass the level in 1415 points, but overcome its local rolling back down will be difficult, especially in view of the available overbought
, so the show recoilless growth with the same rate will not be easy.
Some traders added that European equity indexes were looking "overbought
" on a technical chart basis, giving them further reason to sell shares.
Foreign investors have overbought
308,000 Jih Sun shares so far in October, boosting the ratio held by foreigners to a lion's share of 70.53%.
There is more than enough here, even without bringing in China, to get a reaction out of technically overbought
markets but there has been little response thus far.
According to Timothy Murphy of Trade Monitor Idea, a platform which connects brokers' trading recommendations with funds and asset managers, brokers believed LinkedIn was overbought
and in the near term there would be a fall in its price.
That has also driven technical indicators into overbought
territory with the relative strength indicator at 75 for Brent and 74 for WTI.
This is a technical momentum indicator that compares the size of recent gains to recent losses in an attempt to determine the overbought
and oversold conditions of an asset (or contestant for sports traders).
Still, some analysts worry that the market is overbought
and could be headed for a pause.
In 1999 and 2000, the corporate side overbought
space, particularly in New York, because of centralization.
Prices of 10-year Japanese government bond futures moved lower Friday morning as dealers reduced their overbought
positions ahead of the weekend.
Prices of 10-year Japanese government bond futures turned downward Wednesday for the first time in six trading days, with investors adjusting their long, or overbought