USOIL Will Grow! Long!

Please, check our technical outlook for USOIL.

Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is testing a major horizontal structure 68.666.

The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 70.696 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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