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* **Relative Strength Index (RSI):** This indicator measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of oil. Readings above 70 typically suggest that the asset is overbought and may be due for a pullback. On the other hand, readings below 30 suggest that the asset is oversold and may be due for a rebound. Traders use the RSI to time trades and identify potential reversals.
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