🌐Forecast for oil (USOIL):

WTI is currently trading around 97.00 USD.

The price is targeting Fibonacci extension levels of 97.20 to 96.05 USD, while the RSI has now moved below 45, indicating that bearish momentum could be building.

The volume profile marks 100 to 102 USD as a failed fair value, with higher volumes suggesting that sellers have the advantage.

The white descending trend line has become a potential ceiling for price movement near 99.43 USD, while price movement below 100 USD remains bearish in terms of structural support.

Trading idea for today:

We will start selling if the price returns to 98.75 USD.

I'm taking profit at 97.20 USD.

I'm setting a stop-loss at 99.40 USD.