USOIL Tests the $100 Level: Uptrend Holds but Faces Near-Term Pullback Pressure

Bullish momentum remains intact as price holds above both the EMA50 and EMA100, with these moving averages sloping upward and acting as dynamic support. The H4 RSI is hovering around the 60–65 range, indicating that buying pressure still dominates without entering overbought territory, suggesting there is still room for further upside.

However, the $100 level is acting as a key psychological resistance, aligning with a prior supply zone. The fact that price has tested this level multiple times without a decisive breakout suggests that short-term profit-taking pressure remains present. Without a strong catalyst from either flows or fundamentals, a technical pullback remains a plausible scenario.

In a bullish case, if price holds above the 95-96 area (confluence of EMA support and the nearest demand zone) and continues to respect the ascending channel structure, USOIL could extend higher toward the next supply zones around 104-105.

On the downside, a breakdown below the 95-96 level with clear selling pressure could weaken the short-term bullish structure, potentially leading to a deeper correction toward the 90 area, and further down to the 85–86 zone before finding a new balance.
 

29.04.2026

USOIL (WTI)

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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.