Possible "W Pattern" Initiation After Breaking Through $64.5

USOIL surged strongly on Friday, closing with a large bullish candle on the daily chart. Looking at the chart, the $64.5 level has acted as resistance since the sharp decline on April 4th. The price remained capped by $64.5 for four consecutive trading days (Monday to Thursday) this week, but Friday’s strong bullish candle successfully broke above $64.5, signaling a valid breakout. This breakout suggests a potential W-bottom pattern formation, paving the way for further upward movement. Therefore, the strategy for next week will focus on seeking long positions.

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