Recent sessions showed aggressive selling — footprint Delta hit -9,000, signaling a heavy imbalance toward sellers.
Yet despite all that pressure, price continues to hold above 58.28. 🔥 With Delta this negative, a breakdown should have been the natural outcome… But the market keeps rejecting lower prices — a classic sign of absorption by stronger hands.
We did get some downward pressure from a bearish SMT divergence on the 1H timeframe between USOIL and UKOIL around 59.65. That divergence explains the short-term weakness, but its impact remains limited because absorption is clearly dominating.
If 58.28 breaks, downside opens up… 📉 But at this point, that scenario looks less probable.
My outlook: The market is absorbing sell flow, preparing to convert bearish pressure into a potential upside breakout. 🚀🔥
Target remains 63.65, aligning with the anchored VWAP from the yearly low — a level price has respected consistently. 🎯
And as a wise 50-year-old trader once said: “Big move is coming.” — you all know the legend 😂😂