USOil Bulls Aim For Breakout Beyond $75.000 Resistance Zone

Market Analysis – January 10th

USOil buyers are building momentum as the market approaches the critical $75.000 resistance zone. After a bullish breakout in December, buyers have maintained their push into the new year, indicating the potential for further expansion to new highs.

USOil Key Levels

Resistance Levels: $75.000, $78.000
Support Levels: $71.400, $66.860

USOil Long Term Trend: Bullish

USOil has been on a consistent upward trajectory since rebounding from the $66.860 key level in December. The bulls broke out of consolidation at $71.400 and are now focusing on the $75.000 resistance zone. Successfully breaching this level could pave the way for additional gains toward the $78.000 area, reinforcing the bullish trend.

The Bollinger Band indicator highlights increasing volatility, suggesting room for upward movement as buyers dominate the market. The MACD indicator reveals a robust bullish curve, further supporting buyer momentum. If buyers overcome the $75.000 resistance level, the market could rally toward the $78.000 zone, with further gains anticipated as bullish sentiment intensifies. The inclusion of forex signals in market analysis has also gained attention, emphasizing the intersection of diverse trading strategies.

USOil Short-Term Trend: Bullish

On the 4-hour chart, USOil buyers continue to hold control, with the Bollinger Band indicating upward pressure and the MACD confirming bullish momentum. The $75.000 market level serves as a significant obstacle, but sustained buyer strength could lead to a breakthrough.

If the bulls succeed, USOil could ascend toward the $76.500 level in the medium term. Conversely, a failure to sustain upward momentum might result in a pullback to the $72.500 key level before another bullish attempt.

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