US100 Is Very Bullish! Long!

Please, check our technical outlook for US100.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 16026.2.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 16571.0 level.

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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Comment:

I evaluated the trade and decided to keep it running!