Crude oil (USOIL) is struggling to gain momentum, trading at $72.95, as a downward trendline continues to cap upside moves. The pivot point at $76.68 serves as a key level—remaining below it keeps the bias bearish.
Immediate resistance sits at $78.13, and breaking above this level could shift sentiment toward $79.41, strengthening bullish momentum.
On the downside, support is at $75.45, with a deeper safety net at $74.08. The 50-day EMA at $75.92 and 200-day EMA at $76.33 indicate that the market remains under pressure. A move above $76.68 could trigger a bullish shift, while rejection at resistance may extend losses.
