USOIL: False Breakout and Potential Reversal

USOIL: False Breakout and Potential Reversal

USOIL recently made a false breakout below the support area near 61.40, which suggests that sellers failed to push the price lower.

This false breakout often signals a possible bullish reversal if buyers maintain control.

Currently, the price is trading just above the support zone and seems to be building momentum for a potential rebound.

If the bullish scenario continues, the next targets to watch are:
63.40
65.00

As long as the price remains above 61.40, the bullish outlook stays valid.

You may find more details in the chart!
Thank you and Good Luck!

❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️