Equity markets across the world have been reeling lately, and our trading range charts for indices of 22 countries highlight the carnage. Countries to recently take big hits include Brazil, Canada, South Africa, and of course, Russia. Any time the price moves below the green shading, it is trading more than 2 standard deviations below its 50-day moving average. Below the green shading is considered extreme oversold territory, and prices don't typically stay that oversold for extended periods of time.
The one positive chart might be India's Sensex index that has moved back above its 50-day moving average recently and formed a short-term uptrend.
Courtesy: Bespoke Investment Group
