WTI Crude Oil (USOIL) Technical Analysis
Resistance Area Holding Strong
The price of WTI Crude Oil is currently testing the $72.36 - $73.49 resistance area. This level has acted as a strong supply zone in the past, rejecting price multiple times. A failure to break above this zone could lead to a downside move.
First Target Identified
If the price gets rejected from resistance, the first target to watch is around $69.36 - $69.82, aligning with recent price reactions and support levels.
Strong Support Zone Below
A further decline could push prices toward the $65.00 - $66.30 area, which has proven to be a strong demand zone in the past. Buyers may step in aggressively at this level.
Conclusion
Currently, WTI Crude Oil is at a key decision point. A break above resistance could trigger further upside momentum toward $79.10, while a rejection could lead to a pullback toward $69.36 - $66.30.
Traders should watch for confirmation signals before making any trading decisions.
If you enjoy, press the like button.
Resistance Area Holding Strong
The price of WTI Crude Oil is currently testing the $72.36 - $73.49 resistance area. This level has acted as a strong supply zone in the past, rejecting price multiple times. A failure to break above this zone could lead to a downside move.
First Target Identified
If the price gets rejected from resistance, the first target to watch is around $69.36 - $69.82, aligning with recent price reactions and support levels.
Strong Support Zone Below
A further decline could push prices toward the $65.00 - $66.30 area, which has proven to be a strong demand zone in the past. Buyers may step in aggressively at this level.
Conclusion
Currently, WTI Crude Oil is at a key decision point. A break above resistance could trigger further upside momentum toward $79.10, while a rejection could lead to a pullback toward $69.36 - $66.30.
Traders should watch for confirmation signals before making any trading decisions.
If you enjoy, press the like button.
Trade active
Note
Trade closed: target reached
Note
Now price touched 66.70 , from 71.70 , 500 pips+ achieved. 
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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.
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.