USOIL - Key Levels for Bullish Stabilization or Bearish Reversal

2024年10月31日

Technical Outlook

The price may stabilize within the bullish zone upon a 4-hour candle close above the pivot line at 68.53, targeting 70.49 initially, followed by 71.78.

Bullish Scenario: While trading above 68.53, the price is likely to move toward 70.49 as the first bullish target, with 71.78 as the next level.

Bearish Scenario: A reversal and stabilization below 68.53 would open a move toward 67.03, with further downside potential to 65.85.

Key Levels:
Pivot Point: 68.53
Support Levels: 70.50, 71.78, 72.75
Resistance Levels: 67.03, 68.85, 63.51

Trend Outlook:
Bullish while the price remains above 68.53

PREVIOUS IDEA:

2024年10月31日

交易結束：目標達成

#USOIL
Update

Profit +110pip ✅

the next movement is still bullish to touch 69.96 and 70.49,
As long as trades above 68.53 means bullish trend
Breaking 68.53 will be bearish

timeframe 4h
Current price 69.45

2024年11月4日

交易結束：目標達成

USOIL Analysis:
update

The price pushed up about 300 points and reached our target perfectly
The price is testing the pivot at 71.78. A 4-hour close above this level may drive it toward 72.74, with further potential to 75.35.

Bullish Scenario: Stability above 71.78 targets 72.74, with 75.35 as the next level.

Bearish Scenario: Failure to hold above 71.78 could push the price back to 70.49, and further to 68.53.

Key Levels:
Pivot Point: 71.78
Support: 70.49, 68.53, 67.03
Resistance: 72.74, 75.35, 77.94

Trend Outlook: Bullish above 71.78, bearish below.