USOIL Bearish Setup: Reversal from Supply Zone
USOIL is at a significant supply zone, marked by historical price rejections and strong selling pressure in the past. This zone has previously acted as a turning point, where sellers regained control, driving prices lower.
The recent bullish rally has pushed the price into this critical resistance area. However, given the strength of this supply zone and the overextended bullish move, there is a high probability of a bearish reversal if price action confirms rejection (e.g., bearish engulfing candles or long upper wicks signaling selling pressure).
I anticipate a bearish move toward the 75.50 level, which represents a logical target for this setup.This setup aligns with the expectation of a potential correction within the broader market context.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
The recent bullish rally has pushed the price into this critical resistance area. However, given the strength of this supply zone and the overextended bullish move, there is a high probability of a bearish reversal if price action confirms rejection (e.g., bearish engulfing candles or long upper wicks signaling selling pressure).
I anticipate a bearish move toward the 75.50 level, which represents a logical target for this setup.This setup aligns with the expectation of a potential correction within the broader market context.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
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