USOIL 29th January 2025 Daily Analysis Based on Main Key Levels 📊

The Daily Current Market Price (DCMP) for USOIL stands at 73.69. Below this level, the market finds support, while above it, resistance levels come into play. Key technical indicators, including pivot levels, Fibonacci retracement, and swing highs/lows, provide a clear roadmap for potential intraday trades.

Key Levels Summary

Below DCMP (Support Levels): 73.21, 72.90, 72.40

Above DCMP (Resistance Levels): 74.21, 74.52, 75.02

Swing High: 80.73

Swing Low: 72.87

Trade Setups

Intraday Buy Trade Setup

Entry: 73.13

Stop Loss: Below 72.40

Take Profit 1: 73.71

Take Profit 2: 74.21

Intraday Sell Trade Setup

Entry: 74.02

Stop Loss: Above 75.02

Take Profit 1: 73.21

Take Profit 2: 72.90

Technical Analysis

Pivot Levels: The daily pivot at 73.71 acts as a crucial level for intraday bias. A break above this level could signal bullish momentum, while a break below may indicate bearish pressure.

Fibonacci Levels: Key Fibonacci retracement levels align with the support and resistance zones, providing additional confirmation for trade entries and exits.

RSI & MACD: RSI is hovering near neutral territory, suggesting a balanced market. MACD shows a potential crossover, indicating a shift in momentum.

Conclusion

The USOIL market is currently trading near key pivot levels, offering opportunities for both intraday buy and sell trades. Traders should monitor the identified support and resistance levels closely, alongside technical indicators, to capitalize on potential price movements.