USOIL remains trapped in a wide consolidation range, with price oscillating between 58.00 and 61.00 for several sessions. Buyers have stepped in near the lower boundary, but momentum continues to fade each time price approaches the upper zone.
Currently, the market sits near the mid-range, offering little directional bias until a clean breakout occurs. A move above 61.00 could shift sentiment bullish, while a breakdown below 58.00 may reopen the path toward recent lows.
For now, USOIL is neutral and ranging patience is key until the market picks a direction.
Currently, the market sits near the mid-range, offering little directional bias until a clean breakout occurs. A move above 61.00 could shift sentiment bullish, while a breakdown below 58.00 may reopen the path toward recent lows.
For now, USOIL is neutral and ranging patience is key until the market picks a direction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.