USOIL Nearing Resistance Trendline Area: Breakout or Pullback?

USOIL prices have been on an upward trend in recent weeks, driven by supply concerns and geopolitical tensions in the Middle East. The price has approached a key resistance trendline area, where a breakout or pullback could occur.

If the price breaks above the resistance trendline area, it could signal a continuation of the uptrend, with potential targets at 93.21 and higher. A breakout could be fueled by further supply disruptions or escalating geopolitical tensions

Alternatively, the price could pull back before breaking out. A pullback could find support at the 67-70 levels. If the price rebounds from support and breaks above the resistance trendline, it would still be considered bullish.