USOIL remains under pressure
USOIL remains under pressure, with the price approaching the support-turned-resistance zone at 72.00, which coincides with the 100% Fibonacci extension level. A reversal below the 72.00 resistance could prompt a further decline and a potential retest of the 66.00 support zone. The Ichimoku cloud also shows bearish pressure, indicating the potential for a further decline.
Conversely, a break above 72.00 could prompt a further rise, with 75.00 as the next potential resistance.
Analysis by: Li Xing Gan, Financial Market Strategist at Exness
Conversely, a break above 72.00 could prompt a further rise, with 75.00 as the next potential resistance.
Analysis by: Li Xing Gan, Financial Market Strategist at Exness
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