The MSCI Global Index has lost 4% in April, with the RSI approaching oversold levels

After a sell-off in risky assets this month, a global equity benchmark has fallen sharply and is close to oversold levels. The 14-day Relative Strength index of the MSCI World index fell below 33 on Tuesday, to levels not seen since October. A reading below 30 would signal a possible reversal of market momentum, as the sell-off may have been excessive. The index fell nearly 4 per cent in April, putting it on track for its first monthly decline since October, as easing bets from the Federal Reserve and escalating conflict in the Middle East have dented the attractiveness of equities.