In a bull market, an overbought trend can stay overbought indefinitely; in a bear market, an oversold trend can stay oversold indefinitely. This definitely cannot be used as a single bottom-fishing indicator. But when it falls to this level and hasn’t seen that “needle-like” thrust in volume, it looks like a large amount of spot is being dumped. The most misleading part is the downward move—like a dull knife slicing through meat—seemingly confusing traders into cutting losses.