USOIL Going over to the 4-Hour timeframe, it is also in Bullish (directional) Market Bias.Market structure shows that there are 3 Pivot Highs (all circled in red) that are progressively lower in price.
The most recent bullish rally helped to fill the upper wick of the very tall Shooting Star (from June 15th), but also rejected the Swing High of 76.628.
A reversal to the downside can be towards the Swing Low of 69.638 with the Bullish Trendline (in green dotted line) nearby to flip the market bias from bullish to bearish.
