Here’s a breakdown of the WTI Crude Oil (USOIL) 4-hour chart
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WTI Oil 4H NEW FORECAST
Key Levels
Resistance Areas (~73.00 - 75.00):
The price is approaching a key resistance zone (highlighted in green).
If it breaks above 72.00, it could continue higher.
Pivot Level (~70.50):
This acted as a key decision point, with price bouncing above it.
✅ Bullish Case:
If the price breaks above 73.00, it could move toward the 75.00 resistance.
A strong close above resistance confirms bullish momentum.
❌ Bearish Case:
If the price rejects at resistance (~73.00), it could drop back toward 70.50 or lower.
A break below 70.50 might indicate a continuation of the previous downtrend.
WTI Oil 4H NEW FORECAST
Key Levels
Resistance Areas (~73.00 - 75.00):
The price is approaching a key resistance zone (highlighted in green).
If it breaks above 72.00, it could continue higher.
Pivot Level (~70.50):
This acted as a key decision point, with price bouncing above it.
✅ Bullish Case:
If the price breaks above 73.00, it could move toward the 75.00 resistance.
A strong close above resistance confirms bullish momentum.
❌ Bearish Case:
If the price rejects at resistance (~73.00), it could drop back toward 70.50 or lower.
A break below 70.50 might indicate a continuation of the previous downtrend.
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