USOIL Will Go Lower From Resistance! Sell!
Here is our detailed technical review for USOIL.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 78.39.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 76.02 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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