USOIL 17th March 2025 Daily Analysis: Strategic Trade Setups

Daily Current Market Price (DCMP): 67.41

📊 Critical Price Zones

Resistance (Above DCMP):

🔴 R1: 67.76 | 🎯 R2: 68.37 | 🚨 R3: 69.36

Support (Below DCMP):

🟢 S1: 65.79 | 🎯 S2: 65.18 | 🚨 S3: 64.19

Swing Levels:

🚩 Swing High: 73.11 (Daily/4H) | 🚩 Swing Low: 65.32 (Daily/4H)

📉 Technical Landscape

Price Action Context:

USOIL consolidates near 67.41, sandwiched between resistance at 67.76 and support at 65.79.

Fib Retracement: The 61.8% retracement level from Swing Low (65.32) to Swing High (73.11) aligns with 65.30, while the 38.2% extension marks 67.32 as resistance.

Momentum Signals:

RSI: Neutral at 51, but bearish divergence observed near recent highs.

MACD: Histogram below zero with a potential bearish crossover.

💡 Intraday Trade Setups

Trade Idea 1: Intraday Buy

📍 Entry: 65.30 (Key Support & Fib 61.8% confluence)

🛑 Stop Loss: 64.19 (Below S3)

🎯 TP1: 67.41 (DCMP) | 🚀 TP2: 67.76 (R1)

Rationale: Strong reversal signals expected at 65.30, supported by bullish divergence on lower timeframes.

Trade Idea 2: Intraday Sell

📍 Entry: 67.32 (Resistance & Fib 38.2% zone)

🛑 Stop Loss: 68.37 (Above R2)

🎯 TP1: 65.79 (S1) | 🚀 TP2: 65.18 (S2)

Rationale: Overhead supply likely at 67.32, reinforced by bearish MACD momentum.

🔑 Strategic Outlook

USOIL faces a critical test between 65.30–67.32. A decisive break above 67.32 opens a path toward 68.37, while failure to hold 65.30 may trigger a drop to 64.19. Monitor 4H closes for directional confirmation.