This is a technical analysis chart for OILUSD on the 4-hour time

The chart highlights key support and resistance zones, potential price movement, and entry/exit levels.

Key Observations:

1. Support Zone (Red):

Price is currently near a significant support area around 70.4 - 71.1.

A potential bounce from this level is expected.



2. Resistance Zone (Green):

The first target resistance lies around 71.9 - 72.7, which may act as a reaction zone.



3. Projected Price Movement:

A possible liquidity grab within the support zone before an upward push.

The ultimate target is around 76.8, aligning with a strong resistance level.



4. Risk Considerations:

A breakdown below 70.4 may invalidate the bullish outlook.

Proper risk management is essential, considering market volatility.




This analysis suggests a bullish reversal if the support holds, with a potential rally towards 76.8. However, traders should monitor price action closely for confirmation.