USOil Trades With Strong Resilience 

Market Analysis – April 6th

USOil trades with strong resilience. USOil has demonstrated strong bullish momentum, with the buyers showing determination to push the price higher. Despite some potential slowdowns in their impulse, the bulls remain focused on their target of reaching the key level of 90.00. This resilience in the face of selling pressure highlights the strength of the buyers in the market.

USOil Key Levels

Resistance Levels: 90.000, 83.030
Support Levels: 80.410, 76.810

USOil Long-Term Trend: Bullish

Since February, there has been a consistent buying order in the US oil market. This buying pressure has made it challenging for sellers to gain control and push the price lower. The buyers have been able to maintain their dominance, keeping market sentiment bullish.

The recent rebound at the significant level of 80.410 has further solidified the bullish activity on USOil. This level has acted as a support, allowing the buyers to regain control and continue their upward trajectory. The ability to bounce back from this level demonstrates the underlying strength of the buyers.

Traders should anticipate a continued bullish tendency in the oil market in the following weeks. The buyers are not ready to relax yet and are determined to push the price higher. Despite the possibility of temporary pullbacks, the overall sentiment remains positive, and the buyers are likely to maintain their race towards the 90.000 significant level.

USOil Short-Term Trend: Bullish 

The Parabolic SAR Stop and Reverse indicator’s signal line supports the strong will of the buyers. This indicator suggests that the buyers are likely to press further, even if there is a pullback next week. Additionally, the Moving Average Convergence and Divergence (MACD) indicator confirms the bullish strength, adding further credibility to the positive outlook for USOil.

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