USOIL Will Move Lower! Short!

Please, check our technical outlook for USOIL.

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

The market is on a crucial zone of supply 75.070.

Taking into consideration the structure & trend analysis, I believe that the market will reach 70.306 level soon.

P.S
Oversold 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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