USOIL – Bullish Breakout from Downtrend Channel | Momentum Shift

11 בנוב׳

USOIL has been confined within a persistent downtrend channel on the 1-hour chart since mid-October, exhibiting lower highs and lower lows amid supply overhang concerns and subdued demand signals. The recent decisive breakout above the upper channel boundary near 60.80 has invalidated this bearish framework, confirming a structural shift as buyers absorb resistance and propel price into expansion territory.

The breakout unfolded with a strong bullish displacement that cleared the channel trendline, followed by a successful retest where the former resistance now serves as dynamic support around 60.50. This has flipped the short-term order flow bullish, generating breaks of structure to the upside and higher lows on lower timeframes. Price is currently consolidating above the channel apex near 60.00, which aligns with the 0.618 Fibonacci retracement of the prior downleg and prior liquidity grabs, reinforcing confluence for sustained upside.

From a market structure perspective, upside volume has surged on the breakout, highlighting buyer conviction, while downside wicks show diminishing seller interest, indicative of a transition from distribution to accumulation. The pair's position above the point of control of the channel range solidifies the bullish control, with the path of least resistance upward as long as the 60.50 support holds.

The bullish bias remains valid provided there is no clean breakdown below 60.00, which would re-enter the channel and stall the momentum. A sustained close above 61.50 would confirm acceleration toward the measured channel projection.

Technical Target Levels
First Target: 61.41
Second Target: 62.52
Third Target: 63.78

Traders should target pullbacks to the 60.50–60.80 zone for long entries, ideally confirmed by a 15-minute fair value gap or bullish engulfing pattern. Stops below the channel retest low ensure risk control, with partial scaling at targets to capture the extension.

This analysis is based purely on price action and structural behavior. It emphasizes the reliability of downtrend channel breakouts as reversal signals when backed by volume and key level confluence.

This is not financial advice. Always use proper risk management and follow your trading plan.

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12 בנוב׳

עסקה פעילה

breakout successful it's time to up market

13 בנוב׳

עסקה סגורה: הגיע לסטופ

USOIL Trade Update | Reverse Long Stop Loss Hit
USOIL has reversed against the bullish channel breakout setup, triggering the stop loss above 61.50 as price rejected the extension and flipped back below the broken resistance (now support) near 60.80. Current levels around 58.44 confirm the invalidation, with sellers reclaiming control amid renewed supply concerns.

The structure has shifted neutral-to-bearish, with lower highs reforming on the 1-hour chart. Positions closed at a loss – lesson in tight risk management during volatile reversals.

Watch for retest of 60.00 as potential short entry if breakdown holds; above 61.50 flips back bullish.

This is for educational purposes only and not financial advice. Always follow your trading plan and use sound risk control.