USOIL Will Fall! Sell!

Take a look at our analysis for USOIL.

Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 73.816.

The above observations make me that the market will inevitably achieve 71.156 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.

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