USOIL 11th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 66.32

Price Context: Trading above immediate support at 65.58 and below resistance at 67.60.

📊 Key Levels & Technical Snapshot

Resistance Levels (Above DCMP):

R1: 67.60 🎯

R2: 68.16 🔴

R3: 72.91

Support Levels (Below DCMP):

S1: 65.58 🎯

S2: 64.32

S3: 62.29

Swing High/Low:

Recent Swing High: 73.11

Recent Swing Low: 65.25

📈 Technical Analysis

1. Fibonacci Confluence:

S1 (65.58) aligns with a 61.8% Fib retracement zone, highlighting strong buyer interest.

R1 (67.60) coincides with the 38.2% Fib extension level, acting as a critical supply zone.

2. Momentum Indicators:

RSI: Neutral at 49.7 but shows bearish divergence on 4H charts near overbought territory.

MACD: Histogram below zero with a bearish crossover, signaling short-term downside momentum.

🚀 Intraday Trade Setups

Trade Idea 1: Intraday Buy

Entry: 65.58 🎯

Stop Loss: 64.32 🛑

Take Profit 1: 66.42 ✅

Take Profit 2: 67.08 ✅

Rationale: Strong confluence of weekly pivot support (65.58) and bullish RSI reversal on lower timeframes.

Trade Idea 2: Intraday Sell

Entry: 67.60 🎯

Stop Loss: 68.16 🛑

Take Profit 1: 66.75 ✅

Take Profit 2: 65.75 ✅

Rationale: R1 (67.60) aligns with a descending trendline and MACD bearish momentum confirmation.

⚠️ Risk Management Tips

Monitor OPEC inventory data for volatility spikes.

Tighten stops if prices breach swing low (65.25) or high (73.11).

Conclusion

USOIL remains range-bound between 65.58–67.60. Focus on trades at tested levels with strict risk controls. A sustained break above 68.16 or below 64.32 may trigger trend acceleration.