Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish
The market is approaching a key horizontal level 126'19.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 129'17 level.
P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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