USOIL Price Consolidation: Potential for Bullish Breakout

25 Jun 2024

Technical Analysis: USOIL

• Current Outlook:
  The price is currently consolidating between 80.73 and 82.24. As long as it trades above 80.73, it will likely aim for 82.24.
  
  
• Bullish Scenario:
  Stability above 80.73 suggests a potential move to 82.24. Should the price close a 1-hour or 4-hour candle above 82.24, it would signal the start of a new bullish trend, with targets at 84.14 and 87.07.
  
  
• Bearish Scenario:
  For a bearish trend, the price must drop and break below 79.47, targeting 77.94. Stability below 77.94 would indicate further bearish movement towards the next target at 75.35.
  
  
• Key Levels:
  - Pivot Line: 80.73
  - Support Levels: 79.47, 77.94, 75.35, 69.78
  - Resistance Levels: 82.24, 84.14, 87.07, 89.08
  
  
• Today's Expected Range:
  The price is anticipated to move between the support at 79.49 and the resistance at 84.14.
  
  
• Tendency:
  The current outlook favors a bullish scenario.

28 Jun 2024

Nota

the price pushed up and reached the target we mentioned

stability above 82.24 means will continue the bullish trend toward 84.14

2 Jul 2024

Nota

New chart overview
pushed up about 3.8$

current price is 84.08 if can stabilize under 84.14 there is a possibility to do the retest till 83.08 and then continue the bullish trend again
Because as long as trades above 83.08 means has a more bullish trend,

3 Jul 2024

Dagangan aktif

as we mentioned the price is felled to make its correction until 83.08, but it is likely to continue its downward correction a little longer toward around pivot level of 82.23. given that, closing the 4H candle under 83.08 will begin the negative step, but reversing to above 83.08 again will support the bullish trend toward 84.14.