USOIL
Over the past three months, the price has been exhibiting a bullish trend by respecting the upward trendline. However, on the 4-hour time frame, the price is now in a consolidation phase. The price recently tested the highs but was rejected, indicating that there may be resistance at those levels. If the price fails to create a higher high, it could be an indication of weakness in the bullish trend, and we may see a retest of support levels. Overall, it is important to monitor the price closely to determine if the bullish momentum is likely to continue or if there could be a potential shift in the market sentiment.
As a result of several failed attempts to break above the upper price range, liquidity has accumulated above it. However, if the bullish momentum continues to dominate the market sentiment, there is a possibility of a successful breakout above the price range, which could push the price towards the 61.8 on the Fibonacci retracement chart.