USOIL: False Breakout and Potential Reversal

[TradingPuzzles]

USOIL: False Breakout and Potential Reversal

USOIL recently made a false breakout below the support area near 61.40, which suggests that sellers failed to push the price lower.

This false breakout often signals a possible bullish reversal if buyers maintain control.

Currently, the price is trading just above the support zone and seems to be building momentum for a potential rebound.

If the bullish scenario continues, the next targets to watch are:
63.40
65.00

As long as the price remains above 61.40, the bullish outlook stays valid.

You may find more details in the chart!
Thank you and Good Luck!

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[Pitchfork_IS_power]

Nice analysis That false breakout looks clean — holding above 61.40 could trigger a strong bounce. Watching 63.40 as the key confirmation level for momentum