From last week, USOIL dropped aggressively from the 65.27 resistance zone and hit our 57.00 support target — a level we’ve been watching closely.
Now here’s where it gets interesting…
Current Observation:
The 57.00 support seems to be holding strong.
We’re starting to see signs that sellers might be losing momentum around this zone.
Price has reacted with a bounce, and if it sustains above 57.00, we could see the buyers step back in.
What I'm Watching:
– A confirmed hold above 57.00 could offer a buy opportunity, targeting to see a break above 59.5 first, then possibly 61.8 – 62.0.
– However, if 57.00 breaks, I’ll be shifting bias back to the downside, watching 55.10 next.
Key Levels:
– Support: 57.00 → 55.10
– Resistance: 59.5 → 62.0 → 65.27
At this point, it's all about how price reacts around 57.00 and 59.50.
A bounce and strong close above? I’ll be looking to go long.
Failure to hold? The sell pressure might continue.
Let’s see how this plays out. Trade safe.
Now here’s where it gets interesting…
Current Observation:
The 57.00 support seems to be holding strong.
We’re starting to see signs that sellers might be losing momentum around this zone.
Price has reacted with a bounce, and if it sustains above 57.00, we could see the buyers step back in.
What I'm Watching:
– A confirmed hold above 57.00 could offer a buy opportunity, targeting to see a break above 59.5 first, then possibly 61.8 – 62.0.
– However, if 57.00 breaks, I’ll be shifting bias back to the downside, watching 55.10 next.
Key Levels:
– Support: 57.00 → 55.10
– Resistance: 59.5 → 62.0 → 65.27
At this point, it's all about how price reacts around 57.00 and 59.50.
A bounce and strong close above? I’ll be looking to go long.
Failure to hold? The sell pressure might continue.
Let’s see how this plays out. Trade safe.
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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.
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.