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You have lifted up my horn like the horn of the wild ox
The psalmist speaks of God as if he had made him as strong as a wild animal. Here his "horn" represents his strength. AT: "You have made me as strong as a wild ox" (See: rc://en/ta/man/translate/figs-metonymy and rc://en/ta/man/translate/figs-simile)
I am anointed with fresh oil
Possible meanings are that the oil that God has put on the psalmist is a metaphor for God 1) making him happy "you have made me very happy" or 2) making him strong, "you have made me strong" or 3) enabling him to defeat his enemies, "you have enabled me to defeat my enemies." (See: rc://en/ta/man/translate/figs-metaphor)
My eyes have seen the downfall of my enemies; my ears have heard of the doom of my evil foes
The words "eyes" and "ears" are synecdoches for the person who sees and hears. The lines may be combined. AT: "I have seen and heard of the defeat of my evil enemies" (See: rc://en/ta/man/translate/figs-synecdoche)