New TA/Charting, page-11144

Almost all followers of derived indicators expect them to indicate a price level or movement - usually in advance. That is where incompetence and ignorance lets them down and a lack of looking at the formulas used to calculate these indicators adds to this misconception.

The RSI is one that is really misunderstood - it only looks at the relative change in spread of the bars before the present bar. Nobody including the inventor, Welles Wider, ever said originally that it indicated a low or a high. Thousands of online "experts" have though. Usually the same ones who rubbish spread analysis.

Indicators only ever indicate a potential oversold or overbought condition, some can lead these conditions and some quite often lag.