USOIL Will Go Lower! Short!

Please, check our technical outlook for USOIL.

Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 66.917.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 62.519 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

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