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USOIL has rebounded from the $79 low and broken above the H4 downtrend, indicating an improving short-term structure. RSI around 64 suggests bullish momentum remains intact. If the $85.5–$86.5 support holds, price may extend toward $100. Conversely, a breakdown could see a retest of the $79–$80 zone.
On the H4 timeframe, USOIL has recorded a notable recovery from the low around $79 and has now broken above the descending trendline extending from the $118 peak. This suggests that the market structure is shifting toward a more constructive short-term outlook. The breakout is not only technically significant but also reflects a weakening of the prior medium-term selling pressure.
The breakout above the H4 descending trendline is not only technically significant but also signals a weakening of medium-term selling pressure. However, for a sustainable uptrend to be confirmed, price must continue to hold key support levels in the near term.
Bullish momentum remains intact, with the H4 RSI currently hovering around the 64 level. This indicates that buying pressure is still dominant, while the market has not yet reached overbought conditions, leaving room for further upside continuation.
In the current scenario, the nearest support zone at $85.5–$86.5 plays a critical role in maintaining the recovery structure. As long as price holds above this area, the upward move could be sustained and extended toward the key psychological resistance at $100. Conversely, a breakdown below this support would weaken the short-term bullish structure, increasing the risk of a return to the broader downtrend, with price potentially revisiting the previous low around $79–$80.
23.04.2026
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.
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This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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