USOIL – Buyers Might Be Waking UpFrom 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.
