USOIL (Strong Support Holding or Bearish Breakdown Ahead?)

29 Jan

WTI Crude Oil is currently testing a critical support level at 72.86, a zone that has historically acted as a strong foundation for price reversals. If buyers defend this level, we can expect an upward move toward 76.20, the first key resistance. A successful breach of this resistance could further push the price toward 78.21, followed by a potential test of the broader resistance zone between 80.44 and 82.79.

However, the risk lies in a confirmed 4-hour or daily candle close below 72.86, which would indicate a weakening bullish presence. In this case, the price could break lower, targeting 70.43, with further downside extensions to 68.57, 66.87, and even 64.53.

For now, 72.86 remains the decision point—a hold above it suggests bullish continuation, while a breakdown below could confirm a bearish trend. Traders should watch for confirmation before making moves.

3 Feb

Dagangan aktif

WTI Crude Oil rebounded after dipping below $72.86, confirming it as a key support. As long as the price holds above this level, the next targets are $76.20 and, if broken, $80.44. A sustained move higher could push toward $82.79 - $84.18.

Market sentiment is driven by OPEC+ production cuts and geopolitical tensions, which may tighten supply. Traders should watch $76.20—a breakout could extend gains, while a rejection may lead to another test of $72.86.