USOIL Will Move Higher! Long!

Take a look at our analysis for USOIL.

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

The market is approaching a significant support area 75.561.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 82.488 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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