WTI Crude Oil (USOIL) 1-hour chart - SELL
The market is currently in an uptrend with higher highs and higher lows.
Recent price action suggests a potential reversal or pullback from the resistance zone.
Resistance Zone: The shaded grey area around 82.127 - 82.220 is a significant resistance zone where the price has shown rejection.
Support Levels: Immediate support is around 80.473 - 80.417, marked by the red lines. A stronger support level is at 77.000, a psychological round number that aligns with previous lows.
Above the resistance zone at 82.220, there may be buy-side liquidity where buy stops from short positions could be placed.
Below the support level at 80.417, there may be sell-side liquidity where sell stops from long positions could be resting.
The overall analysis suggests a bearish bias for USOIL (WTI), expecting a potential reversal or pullback from the resistance zone around 82.127 - 82.220.
Recent price action suggests a potential reversal or pullback from the resistance zone.
Resistance Zone: The shaded grey area around 82.127 - 82.220 is a significant resistance zone where the price has shown rejection.
Support Levels: Immediate support is around 80.473 - 80.417, marked by the red lines. A stronger support level is at 77.000, a psychological round number that aligns with previous lows.
Above the resistance zone at 82.220, there may be buy-side liquidity where buy stops from short positions could be placed.
Below the support level at 80.417, there may be sell-side liquidity where sell stops from long positions could be resting.
The overall analysis suggests a bearish bias for USOIL (WTI), expecting a potential reversal or pullback from the resistance zone around 82.127 - 82.220.
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