USOil (WTI) Maintains Bullish Momentum With Key Breakout Signals

Market Analysis – June 13

USOil maintains bullish momentum with key breakout signals. The USOil daily chart reveals a sustained upward trend, supported by consistent price movement above the 9-day Simple Moving Average (SMA), currently around $64.70. Price action has continuously respected this dynamic support since the market structure turned bullish, while the Relative Strength Index (RSI), standing at 63.82, confirms ongoing positive sentiment. The upward slope of the SMA and RSI positioning above the midline both underscore increasing buyer confidence and an appetite for higher valuations.

USOil Key Levels

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

USOil Long-Term Trend: Bullish

USOil has decisively broken above the previous Market Structure Shift (MSS) around the $65.30 level. The earlier Mitigation Block (MB) near $60.20 acted as a critical launch point for the resulting upward move. Price established a higher low around the MB zone, confirming the presence of strong demand.

Looking ahead, the technical outlook continues to favor buyers, with the next upside target set at the $72.20 resistance, a level previously marked by consolidation. If bullish momentum remains strong, the next medium-term objective is the $80.70 high. However, a break below the $64.70 level could dampen this outlook. Still, current price behavior suggests accumulation rather than distribution, indicating potential for continued expansion in the short to medium term.

USOil Short-Term Trend: Bullish

USOil is currently retracing into a Fair Value Gap (FVG) zone near $65.30 after a strong bullish impulse, signaling possible renewed interest from buyers. Price remains above the 9-period SMA ($66.90), maintaining a bullish structure.

RSI is hovering near 63.0, indicating that momentum is stabilizing but still leans toward the buyers. A bullish continuation from this FVG zone could lead to a move toward the $72.20 resistance level. Traders monitoring these developments may find this setup useful when interpreting forex signals, particularly in identifying potential re-entry points within the prevailing bullish trend.

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