USOIL WTI The price was in a downward trend, moving within a descending channel. A breakout from this channel indicates potential trend reversal or correction.
Consolidation Zone Identified:
The price is currently in a consolidation phase (marked in orange).
A breakout above this zone could confirm bullish momentum, while rejection could push it lower.
Key Resistance Levels for Upside Targets:
If the price breaks above the consolidation zone, it could rally toward 71.246 and 72.103 as potential resistance levels.
Green arrows indicate bullish breakout targets.
Key Support Levels for Bearish Move:
If the price fails to break above the consolidation zone, A further breakdown below this support level could push the price toward 68.400 and 66.888, the next major support.
Conclusion:
The next major move will depend on how price reacts to the consolidation zone. A breakout above could lead to bullish targets, while failure could send prices lower toward the next major support. Traders should watch for confirmation before entering trades. 🚀📉
