{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/us-oil-leg-higher-in-cards\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/us-oil-leg-higher-in-cards\/","headline":"US Oil Leg Higher In Cards!","name":"US Oil Leg Higher In Cards!","description":"US Oil stands at 66.94 level and it seems poised to turn to the upside. It\u2019s located right above a major support area, so we\u2019ll have to wait for a fresh bullish signal. WTI moves somehow sideways in the short term trying to accumulate more energy before deciding direction. The US Crude Oil Inventories will […]","datePublished":"2021-08-18","dateModified":"2021-08-18","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/#Person","name":"Olimpiu Tuns","url":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/","identifier":19876,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/USOIL_2021-08-18_11-59-43.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/USOIL_2021-08-18_11-59-43.png","height":868,"width":1834},"url":"https:\/\/forexschoolonline.com\/us-oil-leg-higher-in-cards\/","about":["US Oil"],"wordCount":223,"keywords":["Trade Setup","us oil","WTI Oil"],"articleBody":"US Oil stands at 66.94 level and it seems poised to turn to the upside. It\u2019s located right above a major support area, so we\u2019ll have to wait for a fresh bullish signal. WTI moves somehow sideways in the short term trying to accumulate more energy before deciding direction.The US Crude Oil Inventories will be released today. The indicator is expected at -1.5M in the previous week versus -0.4M in the previous reporting period.US Oil Technical Analysis!US Oil escaped from the descending pitchfork\u2019s body. It has failed to stabilize below the upper median line (UML) in the last attempt. Now it has retested the 66.58 level and it seems determined to start increasing again.The 67.57 weekly pivot point is seen as the immediate static resistance level. Making a valid breakout above this level could really signal an upside movement, a bullish reversal. Technically, the 65.67 – 66.58 area continues to hold, so we could look for fresh buying opportunities.Also, its failure to reach the weekly S1 (67.57) signaled a potential bullish momentum. Jumping and stabilizing above the weekly pivot point indicates a potential growth towards the downtrend line. Note: ForexSchoolOnline is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}