USOIL / Bearish confirmation toward 79.49

Jul 18

Technical Analysis: USOIL

Current Outlook:
The price is expected to touch 80.70 and then consolidate between 80.70 and 81.70 until a breakout occurs.

Bullish Scenario:
For a bullish trend to be established, the price should reverse and stabilize above 82.27, targeting 82.25 and 84.14. There is also a possibility of a bullish retest up to 81.70.

Bearish Scenario:
As long as the price trades below 81.70, it will likely drop to 79.50. The price needs to break below 80.70 to confirm the bearish trend, ideally closing a 1-hour candle under this level.

Key Levels:
- Pivot Line: 81.22
- Support Levels: 79.49, 77.94, 75.35
- Resistance Levels: 81.72, 82.24, 84.14

Today's Expected Range:
The price is anticipated to move between the support at 79.49 and the resistance at 82.15.

Jul 22

Trade closed: target reached

The price will reach our second target which is 77.94and then will do some correction
stability under 77.94 means will support falling toward 75.35

Jul 25

Note

Next outlook :
still running to get 75.35 and then should stabilize under it to be more bearish till 72.75, otherwise stability above it means will try to get 75.00