USOil (WTI) Shows Signs Of Recovery Supported By Technical Confluence

Market Analysis – August 15

USOil is staging a rebound after a period of downside consolidation, with recent candles showing clear price rejection around the $62.80 support zone. The 9-day Simple Moving Average (SMA) has started to flatten, suggesting a possible shift in momentum as selling pressure eases. In addition, the Relative Strength Index (RSI) has edged higher from oversold territory, signaling early accumulation by market participants. Collectively, these technical indicators point to the potential for renewed bullish strength.

USOil Key Levels

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

USOil Long-Term Trend: Bullish

The market has defended the $62.80 demand region, where an order block aligns with prior liquidity zones, reinforcing it as a strong base. Bullish rejection wicks and consolidation around this level indicate that buyers are gradually regaining control. The next key resistance lies at $65.30, and a decisive breakout above this point could confirm an extended bullish continuation.

Looking ahead, if price breaks above $65.30, momentum could accelerate toward the $72.20 resistance in the near term. Sustained bullish sentiment may drive prices further to $80.70, with the potential to test $84.50 if market conditions remain supportive. Analysts monitoring forex signals may view these levels as crucial benchmarks for aligning energy and currency market trends. For now, the bullish outlook remains valid as long as the $62.80 support holds.

USOil Short-Term Trend: Bullish

USOil has established a firm base around the $62.80 support zone, with buyers steadily regaining control. The price has broken out of a descending formation, indicating the end of short-term selling pressure.

The RSI is climbing from oversold levels, reinforcing the likelihood of a bullish reversal. With momentum building, USOil is expected to target $65.30 in the short term, with the potential to extend gains toward $72.20 if buying strength continues.

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