USOIL Will Go Higher From Support! Long!

Please, check our technical outlook for USOIL.

Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a key horizontal level 67.592.

Considering the today's price action, probabilities will be high to see a movement to 71.123.

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.

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