USOIL a possible breakout soon

Hello everyone, as we all know the market action discounts everything :)

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The Crude Oil market has shown itself to be resilient as we had initially pulled back but now are turning around to show signs of life again.
In the last 2 weeks, the market has been moving sideways between a Resistance located between 70.40 - 71.04 and a Support of 68.27 - 66.79.
The price has increased from the last drop that happened last month in August by 15% where the market was trading near the 61$ range.

Could this movement be the start of a Bearish long-term trend ??

Notice on the chart that for the last couple of months we've been having lower Tops and lower Bottoms, So if we look at the big picture of the market right now it seems that the market is having a corrective wave at the moment but a certain drop will most likely happen soon.
But Technical Analysis shows that the market is still in a Bullish state.

Possible Scenarios for the market :

Scenario 1 :

The market is having its corrective wave right now and trading near the resistance zone extended from 70.40 - 71.04, If the Bulls were able to group up and gather their power then we might see a breakout happening in that zone which could lead the market back up to the 73.84 resistance level.
The market has formed 3 Outside up candlestick pattern (Strong Bullish Sign).

Scenario 2 :

Looking at the chart we notice that we are having some kind of a Bearish trend (It Could be Small it Could be BIg) and the price has reached the edge of the resistance zone, which could indicate that the bounce down from that zone will happen and it will drop the price to the 68.27 Level, Where the support zone start. A battle will happen between the Bulls and Bears and the Bears will win if it turns out that the bearish move is big, and a further drop will happen which could lead the market back to the 60$ level in the next 2 months.

Technical indicators show :

1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign)
2) The RSI is at 56.00 showing strength in the market. No divergences were found between the indicator and the market.
3) The MACD is above the 0 line which indicates that the market is in a Bullish state, With a positive crossover between the MACD line and the Signal line.

Daily Support and Resistance :
support Resistance
1) 69.76 1) 70.40
2) 69.35 2) 70.63
3) 69.12 3) 71.04

Weekly Support and Resistance :
support Resistance
1) 68.27 1) 70.63
2) 66.79 2) 71.51
3) 65.91 3) 72.99

Fundamental point of view :

At the beginning of the week, OPEC ( Organization of the Petroleum Exporting Countries ) will release the latest monthly oil market report. WTI crude oil prices have been weakening since July. This comes amid concerns about the global growth outlook as the Covid Delta variant has been sapping demand woes. US retail sales may also stir volatility, especially if Covid shows increasing signs of making its way into the economy.

Earlier this week OPEC decided to increase output by 400,000 barrels per day (bpd) for the month of October, in line with its gradual plan to reintroduce supply into international markets after drastically withdrawing supply at the start of the pandemic. According to Dailyfx

This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!

Thank you for reading.