WTI Crude Oil (USOIL) 4H Chart Analysis & Trade Setups
Bullish Scenario (Buy Setup)
📌 Entry: If price holds above the pivot line ($70.50) and forms bullish confirmation (e.g., double bottom, bullish engulfing candle).
🎯 Target 1: $72.00 (short-term resistance)
🎯 Target 2: $74.50–$75.00 (major resistance zone)
Confirmation Needed: Bullish rejection candles, strong volume, or a break above $72.00.
Bearish Scenario (Sell Setup)
📌 Entry: If price breaks below $70.50 and retests it as resistance.
🎯 Target 1: $69.50 (support level)
🎯 Target 2: $67.94 (deeper support zone)
Confirmation Needed: Breakdown of pivot level, retest with rejection, bearish candle patterns.
* If price stays above $70.50, look for buying opportunities targeting $72.00–$74.00.
* If price breaks below $70.50, expect more downside, with $69.50 and $67.94 as potential targets.
📌 Entry: If price holds above the pivot line ($70.50) and forms bullish confirmation (e.g., double bottom, bullish engulfing candle).
🎯 Target 1: $72.00 (short-term resistance)
🎯 Target 2: $74.50–$75.00 (major resistance zone)
Confirmation Needed: Bullish rejection candles, strong volume, or a break above $72.00.
Bearish Scenario (Sell Setup)
📌 Entry: If price breaks below $70.50 and retests it as resistance.
🎯 Target 1: $69.50 (support level)
🎯 Target 2: $67.94 (deeper support zone)
Confirmation Needed: Breakdown of pivot level, retest with rejection, bearish candle patterns.
* If price stays above $70.50, look for buying opportunities targeting $72.00–$74.00.
* If price breaks below $70.50, expect more downside, with $69.50 and $67.94 as potential targets.
Trade active
Prices continue to rise to meet our proposed target 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.