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Nov 11, 2025
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USOIL Chart on the hourtly time frameOil is currently trading near $59.79 per barrel after a sharp decline last week. Prices found temporary support around $59.20, while selling pressure remains dominant due to weak global demand and rising US inventories. The MACD indicator is still in negative territory, reflecting the continuation of the short-term downtrend. However, the current consolidation could pave the way for a limited correction towards $61.00.
Expectation: Holding above $59.20 could allow for a limited rebound, while a break below this level would resume the decline towards $58.40.
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