USOIL 3rd February 2025 Daily Analysis Based on Main Key Levels

The Daily Current Market Price (DCMP) for USOIL stands at 74.08. Below this level, the market finds support, while above it, resistance levels come into play. The analysis is based on key technical levels, including pivots, Fibonacci retracement, and extensions, alongside RSI divergence and MACD crossovers.

Key Levels:

Below DCMP (74.08):

Support 1: 73.61 (Pivot)

Support 2: 72.40

Support 3: 71.66

Above DCMP (74.08):

Resistance 1: 74.81

Resistance 2: 75.55

Resistance 3: 76.76

Swing High and Low:

Swing High: 80.73

Swing Low: 72.87

Trade Setups:

Intraday Buy Trade:

Entry: 73.61 (Pivot Support)

Stop Loss: Below 72.40

Take Profit 1: 74.08 (DCMP)

Take Profit 2: 74.81 (Resistance 1)

Intraday Sell Trade:

Entry: 74.81 (Resistance 1)

Stop Loss: Above 75.55

Take Profit 1: 74.08 (DCMP)

Take Profit 2: 73.61 (Pivot Support)

Technical Indicators:

RSI: Neutral, showing no significant divergence.

MACD: Potential crossover signal, indicating a shift in momentum.

Summary:

The USOIL market is currently trading at 74.08, with immediate support at 73.61 and resistance at 74.81. Traders can consider intraday buy opportunities near pivot support and sell opportunities at resistance levels. The swing high and low levels at 80.73 and 72.87, respectively, provide a broader context for market direction.