US oil to bounce into $88.61-$90.56 range
USO•US oil is expected to bounce into $88.61-$90.56 per barrel after stabilizing around support at $83.45-$84.40.
USO•USO•USO•US oil is expected to bounce into $88.61-$90.56 per barrel after stabilizing around support at $83.45-$84.40.
US oil has stabilized around a support zone of $83.45-$84.40 per barrel, formed by retracement and projection levels. The analysis says either support could trigger a bounce, with a doji in the previous session an early signal.
On the hourly chart, a break above resistance at $86.63 and a falling trendline could open the way to $87.52-$88.96. Support is at $85.18; a break below it could lead to $82.85-$84.02.
