USOIL has recovered from last week’s sell-off and is now attempting to hold above the $59.20–$59.40 zone. Price has reclaimed the short-term EMA, showing renewed bullish momentum after a period of consolidation.
To continue higher, buyers need a firm break above $59.60. Failure to hold the EMA could pull price back toward $58.80–$58.50 for a retest of demand.
To continue higher, buyers need a firm break above $59.60. Failure to hold the EMA could pull price back toward $58.80–$58.50 for a retest of demand.
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