🎯 USOIL 31st January 2025 Daily Analysis Based on Main Key Levels

The Daily Current Market Price (DCMP) for USOIL is 73.27. Below this level, the market finds support, while above it, resistance dominates. Here’s a crisp and accurate analysis of key levels, swing highs/lows, and intraday trade setups based on technical and fundamental factors.

Key Levels Summary

Above DCMP (Resistance): 73.68 (R1), 74.10 (R2), 74.77 (R3)

Below DCMP (Support): 73.13 (S1), 72.34 (S2), 71.92 (S3)

Swing High: 80.73

Swing Low: 72.87

Technical Analysis

Pivot Levels: The pivot at 73.01 acts as a critical level. Above this, the bias is bullish; below, it’s bearish.

Fibonacci Levels: Key retracement levels align with support and resistance zones, providing confluence for trade setups.

RSI & MACD: RSI shows neutral momentum, while MACD hints at a potential crossover, indicating a shift in market sentiment.

Trade Setups

Intraday Buy Trade Setup

Entry Price: 🎯 73.13 (S1 Support)

Stop Loss: 🛑 71.92 (S3 Support)

Take Profit 1: 🎯 72.34 (S2 Support)

Take Profit 2: 🎯 73.01 (Pivot)

Rationale: The price is near a strong support level (73.13), aligning with the pivot and Fibonacci confluence. A bounce from this level offers a low-risk buying opportunity.

Intraday Sell Trade Setup

Entry Price: 🎯 74.02 (R1 Resistance)

Stop Loss: 🛑 74.77 (R3 Resistance)

Take Profit 1: 🎯 74.10 (R2 Resistance)

Take Profit 2: 🎯 73.68 (R1 Resistance)

Rationale: The price is approaching a key resistance level (74.02), which aligns with the pivot and Fibonacci extension. A rejection here presents a high-probability selling opportunity.

Conclusion

USOIL is currently trading at 73.27, with key support at 73.13 and resistance at 74.02. The market shows a balanced sentiment, but the pivot level at 73.01 will dictate the next directional move. Traders should watch for price action at these levels and consider the intraday buy and sell setups outlined above.