USOIL Chart Technical Outlook posts lower lows and lower highs
We are moving lower within the BC leg of a large daily Crab formation. A common retracement level is an 88.6% pullback of the last rally. This target is located at $70.00. Bespoke resistance is located at $76.48. The previous swing low from May 24 is located at $76.18. What was support, now becomes resistance. This zone has been pivotal through 2024. Resistance: $76.18 (swing low), $76.48 (bespoke), $112 (Crab)
Support: $72.40 (swing low), $70.00 (88.6%), $67.74 (2024 base)
