USOil (WTI) Poised for Bullish Recovery After Recent Consolidation Phase

Market Analysis – September 5

USOil is poised for a bullish recovery following its recent consolidation phase. The overall market structure shows a strengthening bullish bias as technical indicators begin to align with upward momentum. The 9-day Simple Moving Average at $64.00 is close to the current price of $63.30, suggesting a potential shift from consolidation toward upward traction. The MACD (Moving Average Convergence Divergence) histogram is gradually turning positive, and although the signal lines remain relatively flat, the narrowing spread indicates a likely bullish crossover. Collectively, these factors suggest that momentum is transitioning from neutrality toward accumulation, creating favorable conditions for an uptrend.

USOil Key Levels

Resistance Levels: $72.20, $80.70, $84.50
Support Levels: $61.50, $55.20, $52.00

USOil Long-Term Trend: Bullish

USOil has recently held firm at the order block support between $62.80 and $61.45, with the bullish change of character (ChoCH) confirming the market’s intent to reverse higher. Buyers entered strongly at this zone, producing a rebound that reflects demand absorption at a key liquidity area. The rejection from this level highlights its role as a solid base for a bullish advance, with the market structure showing higher lows forming as further confirmation. Additionally, the market’s repeated ability to sustain above this support adds confidence to the bullish outlook.

Looking ahead, USOil is expected to advance toward the immediate resistance at $72.20, which coincides with previous structural highs. If bullish momentum strengthens and volume supports the move, a sustained breakout above $72.20 could open the way toward $80.70 in the medium term. In the short term, the support range between $62.80 and $61.45 remains the key safeguard for bullish continuation. As long as the price stays above this order block, the probability of USOil advancing first to $70.50 and then retesting $72.20 remains strong.

USOil Short-Term Trend: Bullish

USOil continues to respect the ascending trendline support around $62.80, reflecting clear buying interest at this level. The recent rejection within the order block zone underscores demand strength, reinforced by the bullish change of character observed earlier in August.
The 9-period SMA at $63.40 is beginning to flatten, preparing to align with upward momentum. Price action is now positioned to target $70.50 and eventually $72.20 if bullish momentum accelerates.
This analysis highlights how forex signals can be a useful guide in navigating such technical setups and market opportunities.

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