US30- Risk of a minor snap back

US30 hourly chart shows the RSI is forming higher lows at a time when prices are forming lower lows. This indicates the doors are open for a minor snap back to 17,760 levels, before risk aversion could take the pair lower to 17,420 levels (falling trend line support on daily).

Overall, bulls appear to have lost control after prices failing to take out 18K levels. Note the failure at 18K kept the bearish price-RSI divergence on the daily chart (seen in mid/late April) intact.