USOIL (CRITICAL SUPPORT ZONE HOLDS THE KEY TO NEXT MAJOR MOVE)Technical Analysis
Zone of 721.90-70.43, a zone that has historically acted as a strong foundation for price reversals. If buyers defend this level, we can expect an upward move toward 76.20, the first key resistance. A successful breach of this resistance could further push the price toward 78.21, followed by a potential test of the broader resistance zone between 80.44 and 82.79.
However, the risk lies in a confirmed 4-hour or daily candle close below 721.90-70.43, which would indicate a weakening bullish presence. In this case, the price could break lower, targeting 68.57.
Dear Traders, if you find this analysis helpful or have your own insights, drop a comment below! I’d love to hear your thoughts.
