- The index is overbought, as indicated by the RSI (14) indicator, which is above 70 and diverging from the price action. This suggests that the buyers are losing momentum and the sellers are gaining strength.
- The index is forming a bearish divergence with the MACD (12, 26, 9) indicator, which is making lower highs while the price is making higher highs. This indicates that the uptrend is losing steam and a potential downward correction is imminent.
- The index is forming a bearish divergence with the MACD (12, 26, 9) indicator, which is making lower highs while the price is making higher highs. This indicates that the uptrend is losing steam and a potential downward correction is imminent.