After rejecting the 65.27 resistance, USOIL sold off sharply, dropping to the 59.5 support zone — just as anticipated.
This confirms that the market is still respecting key support and resistance levels and trend lines.
Current Scenario:
Price is sitting around 59.5. If this support holds, we could see a corrective move (buy) back to the 62 region. But that zone is now a strong area of interest — previously a broken support, now likely to act as resistance.
Here’s my game plan:
– If price pulls back to 62 and fails to break above, I’ll be watching for a sell setup targeting the 57 or even 55 area.
– If price breaks and holds above 62 with momentum, then I’ll re-evaluate for possible upside continuation.
– Right now, a short-term buy from 59.5 to 62 is valid, but it's riskier. The safer bias remains to the downside until 62 is broken cleanly.
So, while buyers might attempt something from current levels, the dominant trend and structure still favor the sellers — especially below 62.
This confirms that the market is still respecting key support and resistance levels and trend lines.
Current Scenario:
Price is sitting around 59.5. If this support holds, we could see a corrective move (buy) back to the 62 region. But that zone is now a strong area of interest — previously a broken support, now likely to act as resistance.
Here’s my game plan:
– If price pulls back to 62 and fails to break above, I’ll be watching for a sell setup targeting the 57 or even 55 area.
– If price breaks and holds above 62 with momentum, then I’ll re-evaluate for possible upside continuation.
– Right now, a short-term buy from 59.5 to 62 is valid, but it's riskier. The safer bias remains to the downside until 62 is broken cleanly.
So, while buyers might attempt something from current levels, the dominant trend and structure still favor the sellers — especially below 62.
Заявка отменена
Price has broken below the 59.5 support.I'll be watching the 57 price level.
Заметка
If price rejects around the 57 price level, it might offer a possible buy opportunity.If not, price might go as low as 52 level.
Still watching!
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.