USOil (WTI) Faces Sustained Downside Pressure Amid Technical Weakness Signals

Market Analysis – June 6

USOil continues to face persistent downside pressure, with technical indicators pointing toward a bearish trajectory. The MACD (Moving Average Convergence Divergence) histogram remains subdued, and although the MACD line sits slightly above the signal line, the momentum lacks strong bullish conviction. The 9-period Simple Moving Average (SMA-9) is closely aligned with the current price action but provides no significant support, highlighting the absence of consistent upward pressure. This narrow alignment between price and the short-term moving average often signals market indecision or an impending breakdown, especially following an unsuccessful bullish crossover attempt. Traders may be viewing this as a weak corrective rally within a broader downward trend, typical in markets where forex signals suggest limited bullish momentum.

USOil Key Levels

Resistance Levels: $65.30, $72.20, $80.70
Support Levels: $55.20, $52.00, $50.10

USOil Long-Term Trend: Bearish

The price action supports the ongoing bearish sentiment. USOil has encountered rejection twice at the $65.30 resistance zone, with the major supply area around $72.20 firmly defended by sellers. The most recent rally from the $55.20 swing low failed to break above $65.30, instead consolidating in a narrowing range beneath it. This type of consolidation below a key breakdown point is characteristic of distribution patterns.

Given the combination of technical resistance and declining momentum, the outlook for USOil remains bearish. A confirmed break below $60.00 could lead to a move toward the next significant demand zones at $55.20 and possibly $52.00. If bearish volume increases, the market might even test the $50.10 level, which serves as the broader structural floor.

USOil Short-Term Trend: Bearish

On the four-hour chart, USOil maintains a bearish stance as it continues to reject the $65.30 resistance and the established 4H order block zone. The 9-period SMA functions as dynamic resistance, with the price consistently failing to hold above it.
Momentum continues to weaken, and repeated rejections around the $63.50–$65.00 range highlight sustained selling pressure. A decisive break below $62.00 could initiate a sharp decline toward the $55.20 support zone.

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