USOIL is in clear range bound structure as price has been moving between a horizontal support zone and a horizontal resistance zone for an extended period of time. After rejecting the upper boundary the market dropped back to the support area where buyers are expected to show interest once again. The repeated rejections from both levels highlight strong liquidity zones that continue to guide market direction. If the support holds price could bounce higher toward the resistance region but if it breaks lower the structure may shift into a bearish continuation. Traders will be watching closely for confirmation signals around this level before deciding the next move.
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