Varonos

UOSOIL | Neutral for the moment, buy if price make a breakout

FX:USOIL   CFDs on Crude Oil (WTI)

- USOIL attempted a breakout at 28-29 area testing the short term resistance.
- Until the maket closed, there was a bullish movement considering the fact that the price action was consistenly above the 20 MA and the 50 MA.
- RSI level at 73 seems to approach the overbought area.
- Positive sign the fact that the price of USOIL is going along with the upper Bollinger band .

Forecast: If the USOIL breakouts the short term Resistance then the next big test will be the Resistance after the USOIL Crash.

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