(USOIL) on the 4-hour (4H) timeframe,
(USOIL) on the 4-hour (4H) timeframe, showing technical analysis and potential price movement.
Chart Details:
• Current Price: Around 69.01 - 69.07
• Technical Analysis:
• Support Zone: 68.26 - 69.18 (marked in red)
• Resistance Levels: 75.14 - 77.03 (yellow and purple zone)
• Chart Pattern: Possible double bottom or bullish reversal setup
• Expected Movement: If the support holds, price may rise towards 74-75
• Previous Resistance: Horizontal key levels and a head & shoulders pattern
Conclusion:
This chart suggests a bullish breakout possibility, especially if the price stays above 69 and moves upward. However, if it breaks below 68.26, further downside pressure could build up.
Chart Details:
• Current Price: Around 69.01 - 69.07
• Technical Analysis:
• Support Zone: 68.26 - 69.18 (marked in red)
• Resistance Levels: 75.14 - 77.03 (yellow and purple zone)
• Chart Pattern: Possible double bottom or bullish reversal setup
• Expected Movement: If the support holds, price may rise towards 74-75
• Previous Resistance: Horizontal key levels and a head & shoulders pattern
Conclusion:
This chart suggests a bullish breakout possibility, especially if the price stays above 69 and moves upward. However, if it breaks below 68.26, further downside pressure could build up.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.