USOIL/ Key Resistance at $76.20 and Bullish Breakout Potential

Oil prices are currently below $76.20, a key resistance level, suggesting further downside potential toward support levels at $74.01 and $72.86. However, if the price manages to rise above $76.20, it would signal a shift toward bullish momentum. For confirmation, a close above $76.20 on a 4-hour or daily chart would be necessary to validate the breakout and start a bullish trend. A close above this level indicates the potential for further gains, as the resistance has been overcome.