(2-hour timeframe for WTI Crude Oil (USOIL).(2-hour timeframe for WTI Crude Oil (USOIL)), here’s the technical analysis and target zones:
🟦 Key Observations:
Price is trading in an ascending channel.
I'm using the Ichimoku Cloud for trend confirmation.
There are two clear target zones marked with arrows.
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🎯 Target Levels (as shown on chart):
1. First Target Zone: ~$74.50
This is the intermediate resistance level.
Price is expected to break above ~$69, then head toward this zone.
2. Final Target Zone: ~$76.50–77.00
This is the major resistance area, possibly the upper end of a swing move.
Could be reached if momentum remains strong and no major reversal occurs.
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📌 Current Price:
$68.66 (Sell) / $68.76 (Buy) — as of the screenshot.
📈 Suggested Strategy (based on the chart setup):
Entry: On breakout above ~$69.00 with volume confirmation.
First TP: ~$74.50
Second TP: ~$76.50–77.00
Stop-Loss: Below the lower channel support (~$66 or tighter, depending on your risk tolerance).
