USOIL 3H Bullish Reversal Setup with Key Upside Targets

Trend Context:

The chart shows a potential bullish reversal setup.

Price is consolidating around the marked support level (~$65–$66).

🔹 Key Technicals:

EMA 50 (red line) is at ~$67.48 — currently acting as near-term resistance.

EMA 200 (blue line) is at ~$66.79 — price is hovering just below this, indicating the area is a pivot zone.

The 200 EMA is flattening, suggesting the strong downtrend is slowing.

🔹 Price Structure:

The pattern projects a potential bounce from the support zone with two upside targets:

1st Target: $72.13

2nd Target: $77.28

The path drawn shows a possible retest of support before launching upwards.

🔹 RSI:

RSI is around 43.94, indicating momentum is neutral to slightly oversold — this supports the idea of a rebound if buying pressure returns.

✅ Summary:

Bias: Early bullish reversal.

Key Zone: Hold above $65–$66 support.

Upside Targets: $72.13 and $77.28.

Watch: Reaction near EMA 50/200 — breaking above and retesting them as support would strengthen the bullish case.