USOIL bullish projection, expecting price to rise after pullbaCK

Instrument: CFDs on WTI Crude Oil
Timeframe: 2-hour (2h)
Current Price: Around 69.35 USD
Indicators:
Moving Averages: Two are visible (likely 50 and 200-period EMAs)
Fibonacci Levels: Retracement levels marked
Key Zones:
Resistance Zone (Red box): Around 63–65 USD
Support Zone: Around 61–62 USD
Price Action:
There was a significant downtrend, followed by a double bottom/reversal.
Price has broken above previous resistance and is now retesting the breakout zone.
Trade Setup:
Entry Zone: Around 63.10 USD
Target Zone: Around 69.11 USD
Stop Loss: Near 61.87 USD (based on the support zone/Fibonacci 0.5 level)
The green box suggests a bullish projection, expecting price to rise after a pullback and retest.
Interpretation:
This chart implies a bullish setup, where the trader expects:

A minor retracement to the highlighted red resistance-turned-support zone.
A continuation toward the target at 69.11 USD.
The risk-reward ratio is favorable if the entry occurs near the zone outlined.