CL1! Will Go Lower From Resistance! Sell!

29 May 2023

Please, check our technical outlook for CL1!.

Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is testing a major horizontal structure 73.13.

Taking into consideration the structure & trend analysis, I believe that the market will reach 69.52 level soon.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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