USOIL: Wait for a pullback to $59 to buy.

During Monday’s Asian trading session, NYMEX West Texas Intermediate (WTI) crude oil futures rose 1.7%, trading around $59.30 per barrel. Oil prices opened strongly as OPEC+ agreed to halt production increases starting from Q1 2026, providing solid buying support at the open.

On the 1-hour chart, crude oil is showing high-level consolidation, with prices repeatedly oscillating around the moving average system, indicating a short-term neutral, range-bound objective trend.
However, from a subjective trend perspective, the bias remains to the upside. The MACD fast and slow lines have pulled back toward the zero axis and are about to form a bullish crossover, suggesting that bullish momentum is building.
There is a high probability that crude oil will break to new intraday highs today.

Intraday Trading Plan:

Buy near: $59.00

Take Profit 1: $60.00

Take Profit 2: $60.50

Stop-loss: Adjust based on individual risk tolerance