The RSI has once again moved over this 70 level, as the price has moved closer to this resistance level. It is very likely that the price would start to move down from here. This also links in with the long-term analysis I have done which is also showing bearish signals. The price is very close to reaching a significant resistance level and is being pushed down.
Will the crude oil inventories mess up with this analysis? That's the only thing that concerns me.
JohnnyPurtoy98
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@luigifaldetta95, Yes, this is something that can make the market very volatile. Usually, this volatility starts to slow down after and hour or so, I would wait till the data has been released before placing any trades on this pair.