USOIL / UNDER BULLISH PRESSURE - 4H
USOIL / 4H TIME FRAME
HELLO TRADERS
currently prices trading above turning level at 78.74 , overall under bullish pressure.
In order for the price to reach 71.59, it first needs to establish a period of stabilization above two critical levels: 68.74 and 69.98. These levels act as key support zones, signaling strength in the market if maintained. Once stability is confirmed above 69.98, upward momentum is expected to build, pushing the price toward 71.59. If this bullish trend continues, the price may extend further, reaching the next target at 74.24.
However, if the price fails to hold above 68.74, it indicates weakening bullish momentum, and the market may shift towards a downtrend. In this scenario, breaking the turning level at 68.74 could trigger a decline toward 65.35. A more pronounced drop could push the price even lower if this support level is breached.
TURNING LEVEL : 68.74
HELLO TRADERS
currently prices trading above turning level at 78.74 , overall under bullish pressure.
In order for the price to reach 71.59, it first needs to establish a period of stabilization above two critical levels: 68.74 and 69.98. These levels act as key support zones, signaling strength in the market if maintained. Once stability is confirmed above 69.98, upward momentum is expected to build, pushing the price toward 71.59. If this bullish trend continues, the price may extend further, reaching the next target at 74.24.
However, if the price fails to hold above 68.74, it indicates weakening bullish momentum, and the market may shift towards a downtrend. In this scenario, breaking the turning level at 68.74 could trigger a decline toward 65.35. A more pronounced drop could push the price even lower if this support level is breached.
TURNING LEVEL : 68.74
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