USOIL’s technical analysis reveals a stable market with minimal change, priced at $85.28. The critical pivot point is set at $85.89. Resistance levels are marked at $87.47, $88.53, and $89.61, indicating potential upward challenges.
Support lies at $84.58, $83.57, and $82.54, suggesting where price stabilization might occur. The 50-day EMA at $85.00 and 200-day EMA at $81.55 provide foundational support.
The presence of Doji candles signifies market indecision, yet maintaining above the EMAs could encourage buying. However, USOIL remains bearish below $85.90, with a break above possibly ushering in bullish momentum.