USOILCrude oil is currently trading around the $60.00 level, consolidating after a recent bearish phase. Price has respected the support zone near $59.50–59.80, forming a potential accumulation base.
A descending trendline is acting as dynamic resistance, while the 50-period moving average is flattening—indicating that bearish momentum is losing strength.
The projection suggests a possible breakout above the trendline, followed by a retest of the breakout zone before a potential rally toward the $62.00–62.50 area.
As long as the price holds above the support zone, the bullish scenario remains valid. A breakdown below $59.50 would invalidate this setup.
