USOIL at Critical Support – Rebound Toward 73$?

12 Mac

USOIL has reached a major demand zone, an area that has historically acted as strong support. This region has previously triggered sharp rebounds, making it a key level to watch for a potential bullish reaction.

The recent sell-off has pushed the price deep into this zone, and early signs of rejection could indicate that buyers are stepping in. If support holds, we could see a recovery toward $73, aligning with a corrective move.

However, if price fails to hold and breaks decisively below this zone, it would signal continued weakness, opening the door for further downside, possibly targeting the next support area.

Traders should wait for confirmation, such as bullish price action, increased buying volume, or key reversal patterns before committing to long positions.

17 Mac

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