Actually it is oversold...indicators all have parameters and while textbook explanations show 30 or below as being oversold when using the RSI it is not a specific science...Many chartists including myself will consider different levels of being oversold and not till it breaks to the upside of 50 would I consider it being totally out of the oversold area...If RSI is oversold at 30 then there is no way it is not oversold at 33 unless there are many other indicators to prove that point on a given chart....
In this particular chart the Williams is considered oversold until it reaches -75...at -89 it is considered oversold....
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