USOIL Will Go Lower! Sell!

Take a look at our analysis for USOIL.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 67.883.

The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 62.518 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.

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

Like and subscribe and comment my ideas if you enjoy them!