OIL OIL OIL where will you go?
The price is testing EMA 89 which I consider this line as a medium period moving average in the day time frame. I speculate that the price will make a rebound back a little bit on next week, but I'd remain neutral though as RSI has not make a clear move yet in either up or down (Oversold or Overbought), but one interesting thing to point out about the RSI is the three times tested on the support I drew. It has not thrown itself over the line which we can infer that this is some significant point of the OIL. Anyway, if the price do manage to throw itself over the support this could go all the way down to oversold zone.
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