WTI Crude Oil: Bullish Breakout & Retest Setup

WTI Crude Oil (USOIL) 15-Minute Chart Analysis

🔍 Analysis:

The chart shows an upward trend recovering from a prior downtrend.

Price broke above a support zone (~67.40–67.50) and is retesting it.

The support zone is clearly marked — price may retest this level before another move up.

The target point is around the 68.30–68.40 area, aligned with previous resistance.

The moving averages (red short-term, blue longer-term) are sloping up, supporting bullish momentum.

✅ Trading Idea:

Bias: Bullish.

Possible Scenario: Wait for price to pull back and confirm support at the marked zone. If it holds, a bounce could target the 68.30–68.40 zone.

Invalidation: A strong break below the support zone could invalidate this setup and suggest a deeper pullback.