WTI OIL Buy Signal on RSI Support bounce

The WTI Oil (USOIL) has been trading within a Channel Down pattern since early July. A key characteristic of that formation is that every time the 1D RSI entered its 35.50 – 30.00 Support Zone, the price rallied short-term on an increase ranging from +8.40% to +13.70%. Two days ago the RSI hit the exact 30.00 level and rebounded. A minimum +8.40% increase would made a new (Lower) High at 82.90 while the maximum of +13.70% would print 86.70 and most likely test the 1D MA50 (blue trend-line) as the August 30 Lower High did.

Tradingview link:

https://www.tradingview.com/chart/USOIL/uUnmWCWj-WTI-OIL-Buy-Signal-on-RSI-Support-bounce