USOIL Will Go Up From Support! Long!

4 Jul

Here is our detailed technical review for USOIL.

Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is on a crucial zone of demand 83.25.

The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 84.34 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

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5 Jul

Catatan

I thin that the price will hit the TP soon enough!