*🛢️ Resistance in Focus: Will Oil Prices Reverse or Fall Again? 🔺* 🔻 ◻️ Oil prices have been trending downward through a parallel channel. However, a crucial support zone near $70.6 has provided a rebound, sparking hopes of a potential recovery. ◻️ Currently, the price is testing its trendline resistance, a critical level that will determine the next move. A breakthrough above this level could signal a reversal in the oil market. ◻️ On the other hand, if the price fails to clear this level, it may indicate that the downward pressure is still too strong, and another leg down is possible. *🔳 Analysis on TradingView* https://www.tradingview.com/chart/WTICOUSD/vJeO7md2-Resistance-in-Focus-Will-Oil-Prices-Reverse-or-Fall-Again/