USOil (WTI) Rejection Confirms Weakness Below Key Resistance Levels

Market Analysis – June 27

USOil has confirmed weakness below critical resistance levels, reinforcing a strong bearish outlook. The market is exhibiting sustained downside pressure, with technical indicators aligning with the prevailing bearish sentiment. The RSI has dropped to 47.99, indicating diminishing bullish momentum and signaling a likely shift in control to sellers. The 10-day moving average, currently positioned at $69.00, has failed to act as dynamic support, thereby strengthening the downward bias. A recent rejection from the $72.00 supply zone further validates the bearish stance below a significant resistance level.

USOil Key Levels

Resistance Levels: $72.20, $80.70, $84.50
Support Levels: $65.30, $55.20, $52.00

USOil Long-Term Trend: Bearish

From a technical standpoint, the price structure has clearly broken below $65, followed by a quick retest and rejection from the $70.00 breaker block. This bearish order block, located just beneath the $72.00 resistance, has effectively absorbed buying pressure and triggered increased selling momentum. The formation of consistent lower highs after the $75.00 peak, coupled with the inability to sustain bullish structure, supports the continuation of the downward trend. The failure to hold above $70.00 reflects weakening confidence among buyers.

Looking ahead, the bearish trend is likely to persist toward the $60.00 psychological level, with potential to extend to the $55.00 support zone, which corresponds with previous areas of demand. Unless a higher low is formed or price breaks above $70.00, the overall bias remains firmly bearish, as highlighted by recent forex signals.

USOil Short-Term Trend: Bearish

On the four-hour chart, USOil continues to show a bearish fractal pattern, marked by the formation of lower highs following a strong rejection from the $70.00 supply zone. Price action has recently broken below the ascending trendline and failed to reclaim the $70.00 breaker block.

The RSI remains suppressed below 40, indicating a lack of bullish strength and continued seller control. A possible retracement toward the $70.00 region may occur before further declines resume, potentially targeting the $60.00 psychological level.

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