USOil (WTI) Faces Rejection As Downtrend Momentum Strengthens

Market Analysis – April 11

USOil is facing rejection as bearish momentum gains strength. On the daily chart, the Moving Average Convergence Divergence (MACD) indicator highlights persistent downward pressure. The MACD line remains below the signal line, with both sloping downward, confirming sustained selling interest. Additionally, the histogram continues to display negative bars, indicating that momentum remains in favor of the bears. The 9-day Simple Moving Average (SMA), currently at $63.640, acts as dynamic resistance following the recent decline. This moving average has yet to be reclaimed, underscoring the prevailing downtrend.

USOil Key Levels

Resistance Levels: $72.00, $80.70, $84.50
Support Levels: $65.30, $61.80, $55.20

USOil Long-Term Trend: Bearish

Price action shows that USOil recently attempted to breach the $72.00 resistance zone in late March 2025. However, the effort was decisively rejected at that level, marked by a clear order block and a pronounced upper wick, signaling strong selling interest. Following the rejection, price fell sharply, breaking below significant Fibonacci retracement levels at $68.00 (0.618) and $65.70 (0.786), before finding temporary support around $55.20. The recent rebound has stalled at the $61.80 mark, which aligns with a former support structure. The overall market structure remains bearish, characterized by consistently lower highs and lower lows.

Looking forward, a potential retest of the $65.30 area is anticipated, which may act as a short-term supply zone before the price resumes its downward movement. Should sellers reassert control at this level, the downtrend could continue toward $61.80 and possibly revisit the $55.20 support. A confirmed break below $55.20 could pave the way for further downside, particularly if global economic or geopolitical factors continue to impact oil demand. Unless price reclaims $65.30 and begins forming higher lows, the broader trend remains firmly bearish. Traders leveraging forex signals may monitor this resistance zone for potential entries.

USOil Short-Term Trend: Bullish

In the 4-hour timeframe, USOil is currently exhibiting short-term bullish momentum, rebounding strongly from the order block located between $57.50 and $58.50. The price is now trading above the 9-period SMA, reflecting near-term upward strength.
The MACD has crossed above the signal line, with increasing histogram bars, signaling continued buying interest. A short-term bullish projection targets the $65.30 resistance area, where sellers could potentially return to the market.

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