OIL Technical Analysis Technical Overview USOIL is attempting a mild rebound following a sharp decline. While the overall trend remains under pressure, the price is beginning to lift off recent lows. EMAs are still pointing downward, and RSI near 44 suggests recovery is possible but not yet confirmed. Support Levels 61.30, 60.80 Resistance Levels 62.30, 63.00 Buy Scenario A move above 62.30 could indicate a reversal attempt, targeting 63.00. Entry above 62.35 with a stop-loss at 61.60 is reasonable. Sell Scenario Failure to hold 61.30 support would likely resume the downtrend toward 60.80. Consider short positions below 61.25 with a stop at 62.00.