USOIL - Key Levels for Bullish Stabilization or Bearish Reversal

31 thg 10, 2024

Technical Outlook

The price may stabilize within the bullish zone upon a 4-hour candle close above the pivot line at 68.53, targeting 70.49 initially, followed by 71.78.

Bullish Scenario: While trading above 68.53, the price is likely to move toward 70.49 as the first bullish target, with 71.78 as the next level.

Bearish Scenario: A reversal and stabilization below 68.53 would open a move toward 67.03, with further downside potential to 65.85.

Key Levels:
Pivot Point: 68.53
Support Levels: 70.50, 71.78, 72.75
Resistance Levels: 67.03, 68.85, 63.51

Trend Outlook:
Bullish while the price remains above 68.53

PREVIOUS IDEA:

31 thg 10, 2024

Đóng lệnh: đạt mục tiêu

#USOIL
Update

Profit +110pip ✅

the next movement is still bullish to touch 69.96 and 70.49,
As long as trades above 68.53 means bullish trend
Breaking 68.53 will be bearish

timeframe 4h
Current price 69.45

4 thg 11, 2024

Đóng lệnh: đạt mục tiêu

USOIL Analysis:
update

The price pushed up about 300 points and reached our target perfectly
The price is testing the pivot at 71.78. A 4-hour close above this level may drive it toward 72.74, with further potential to 75.35.

Bullish Scenario: Stability above 71.78 targets 72.74, with 75.35 as the next level.

Bearish Scenario: Failure to hold above 71.78 could push the price back to 70.49, and further to 68.53.

Key Levels:
Pivot Point: 71.78
Support: 70.49, 68.53, 67.03
Resistance: 72.74, 75.35, 77.94

Trend Outlook: Bullish above 71.78, bearish below.