USOIL / UNDER BEARISH PRESSURE - 4H
USOIL / 4H TIME FRAME
Tendency , prices is under downward pressure , until trading below turning level at 77.06
Downward Condition : The price is currently demonstrating strong bearish momentum, indicating a favorable market trend. As long as the price remains below the turning level of 77.06 , this suggests sustained downward movement. The first target is the support level (1) at 75.39 , and if this level is breached, the price is likely to continue its ascent toward the next support level at 74.24 . Maintaining a position above the turning level reinforces the market's strength and increases the likelihood of a continued rally, as it signals confidence among buyers and reduces the chances of a reversal. This condition highlights the importance of the 75,39 level as a critical threshold for maintaining the bearish trajectory.
UPWARD CONDITION : An upward trend is anticipated if the price surpasses the turning level at 77.06 , which would signal a rise towards the resistance level (1) at 78.53 . For the increase to be sustained, the price must break through the resistance level (1) to advance to the next resistance at 79.97 .
USOIL / buy above 77.06
SL: 76.80
TP: 78.53
TP: 79.97
USOIL / sell below 77.06
SL: 77.50
TP: 75.39
TP: 74.24
