Usman Salis
⬤ USOIL is gaining ground on the monthly timeframe as traders price in Middle East risk premiums. Recent Israeli and U.S. strikes in Iran could drive crude toward the first yearly resistance at $73.90, with $77.64 - June 2025's high - standing as the next critical level. The chart places USOIL around $67.37, bouncing from late-2025 lows and climbing away from the monthly pivot zone near $64.44.
⬤ Chart markings align with this view: R1 sits at 73.906, while a horizontal blue line highlights 77.640 as June's peak. These are the two upside targets for the coming week, positioned as overhead barriers after months of lower monthly swings. Crucially, the analysis maintains that as long as crude stays below 77.64, USOIL remains locked in a long-term downtrend. That frames the current move as a rally into resistance, not a confirmed reversal.
⬤ The practical question is whether USOIL can reach the $73.90 band first, then reclaim $77.64. The chart shows a multi-month consolidation through early 2026 before the recent upward push, explaining why these nearby resistance zones matter now. For more on oil's technical structure and the same $77.64 ceiling, check USOIL Crude Oil Rally Resumes With $77.64 Resistance in Focus, 2026 Outlook, WTI Oil Price Analysis: Crude Breaks $65.39, Eyes $68-$69 Level, and Brent Crude Holds Near $72 as Oil Benchmarks Approach Multi-Month Highs in February 2026.
⬤ This setup matters because crude often channels geopolitical stress into broader markets through supply-risk expectations and inflation sensitivity. With USOIL still under $77.64, the chart keeps the longer-term structure cautious - even if price continues climbing toward $73.90 and tests that upper reference next.
Usman Salis
