USOIL Price Consolidation: Potential for Bullish Breakout

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.

Comment:

the price pushed up and reached the target we mentioned

stability above 82.24 means will continue the bullish trend toward 84.14