US100 Is Very Bearish! Short!

Here is our detailed technical review for US100.

Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is testing a major horizontal structure 19,056.1.

Taking into consideration the structure & trend analysis, I believe that the market will reach 18,811.5 level soon.

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:

Great beginning for a trade, let’s hope it goes further!