Crude Oil Technical Analysis – USOIL: USOIL Approaches the $77.5–$78 Resistance as Momentum Targets the $80 Level

On the Daily timeframe, USOIL (WTI) has recorded a strong breakout from around $66 per barrel, indicating that bullish momentum has strengthened considerably. The sharp rally in recent sessions has quickly pushed prices toward $77.5–$78.0 per barrel, which also represents a notable supply zone from June 2025.

The current technical structure suggests that the short-term uptrend remains dominant, as price continues to trade above both the EMA50 and EMA100, while maintaining a pattern of higher lows since the $56–$57 per barrel area. This reflects a return of buying interest following an extended period of downward price movement earlier.

However, as price approached the $77.5–$78.0 resistance zone, profit-taking pressure emerged, leading to a mild pullback with the current price trading around $76.8 per barrel. If USOIL manages to retest the $77.5–$78.0 resistance area and successfully close above $78.0, the bullish momentum could extend further toward $80.0 per barrel.

On the downside, continued rejection below the $77.5–$78.0 resistance zone may increase the likelihood of a corrective move, potentially pushing prices back toward support around $71.5–$72.0 per barrel before a clearer directional trend develops.

5.3.2026

USOIL (WTI)

(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)

Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.