USOIL - Retest at 76.55 Before Bullish Momentum Aims for 79.49
Updated
Market Update: Retest and Bullish Continuation Expected
The price has already reached the resistance zone at 77.95, as noted in our previous analysis. Now, the price is expected to retest the 76.55 level before resuming its bullish trend towards 79.49.
Bullish Scenario:
For the bullish trend to continue, the price should stabilize above 77.94, targeting 79.49, with further potential to reach 80.73.
Bearish Scenario:
If the price stabilizes below 77.94, it could support a decline toward 76.55 and possibly down to 73.35.
Key Levels:
- Pivot Line: 77.94
- Support Levels: 76.55, 75.35, 72.72
- Resistance Levels: 79.49, 80.73, 82.20
Today's Expected Range:
The price is anticipated to move between the support at 75.35 and the resistance at 82.20.
The price has already reached the resistance zone at 77.95, as noted in our previous analysis. Now, the price is expected to retest the 76.55 level before resuming its bullish trend towards 79.49.
Bullish Scenario:
For the bullish trend to continue, the price should stabilize above 77.94, targeting 79.49, with further potential to reach 80.73.
Bearish Scenario:
If the price stabilizes below 77.94, it could support a decline toward 76.55 and possibly down to 73.35.
Key Levels:
- Pivot Line: 77.94
- Support Levels: 76.55, 75.35, 72.72
- Resistance Levels: 79.49, 80.73, 82.20
Today's Expected Range:
The price is anticipated to move between the support at 75.35 and the resistance at 82.20.
Note
Update
The price has reached our target, achieving approximately 220 pips. It is now expected to correct down to 78.58 and 77.94 before resuming the bullish trend, as long as it trades above 77.94.
Trade closed: target reached
Usoil
Update
The price dropped about $4.5 and still running to get 69.78 our last target.
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