USOil (WTI) Bullish Reversal Confirmed As Buyers Regain Control

Market Analysis – February 7

USOil bullish reversal has been confirmed as buyers regain control. The Simple Moving Average (SMA) and the MACD indicators indicate a shift in momentum for USOil. The price is currently testing the 9-day SMA at $72.40, and a sustained break above this level could signal further upward movement. The MACD histogram shows signs of bullish divergence, with the signal line gradually recovering from bearish territory. This suggests weakening bearish momentum and an impending reversal.

USOil Key Levels

Resistance Levels: $77.30, $84.50, $87.60
Support Levels: $70.00, $67.10, $65.30

USOil Long-Term Trend: Bullish

Price action indicates that USOil recently rebounded from a strong demand zone near $70.00, aligning with an order block highlighted on the chart. The rejection from this level, combined with the exhaustion of the previous downtrend, signals that buyers are stepping in. The $67.10 support held firm, preventing further declines, and the breakout above short-term resistance confirms renewed bullish sentiment. Additionally, the descending trendline from the December highs has been invalidated, strengthening the bullish outlook.

With the reversal underway, USOil is expected to rally toward $77.30, aligning with the previous resistance zone. A breakout above this level could pave the way for further gains toward $84.50 and ultimately $87.60 in the coming weeks. If support at the bullish order block remains intact, the uptrend will likely continue, with a strong probability of price acceleration toward key resistance levels.

USOil Short-Term Trend: Bullish

USOil is approaching the critical $70.00 support level, which aligns with a four-hour Fair Value Gap (FVG) and an order block. The 9-SMA at $71.00 is acting as short-term resistance, and a breakout above this level could confirm bullish momentum.
The MACD is showing early signs of recovery, indicating that selling pressure may be diminishing. If buyers step in at this demand zone, USOil could rally toward the $77.30 resistance level, with further upside potential toward $84.50. The presence of forex signals in this context supports the probability of continued bullish movement.

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