USOIL WTI cautiously bullish

9 Mar 2023

With the 4% drop on Tuesday, it appears that USOIL is likely to experience some moderate fluctuations over the next few trading sessions. While there are a number of factors that could impact price action, it seems that the market is currently in a relatively stable state despite the dump.

I would like to outline three potential scenarios:

• USOIL could see some gains early today as the falling wedge looks set for reversal.
  
• There may also be some resistance at $77.40, which could limit the extent of any upward movement. with a potential retest of $76.06
  
• Watch out for a potential retest of previous low ($76.07) before finding upwards momentum.
  

Overall, and right now, I think it is difficult to predict exactly how USOIL will perform today and tomorrow but I'm cautiously bullish plus it's Friday!

Trade safely and don't take my word for it!

❤️📈🔥