🔥 USOIL 7th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 66.29

Key Price Structure & Technical Snapshot 📉

Critical Levels

Above DCMP (Resistance):

▶️ 66.84 (Immediate Resistance) 🔴

▶️ 67.17 (Short-Term Barrier)

▶️ 67.72 (2025 Swing High Confluence)

Below DCMP (Support):

▶️ 64.86 (Multi-Year Low Anchor) 🟢

▶️ 65.41 (Fib 61.8% Retracement)

▶️ 65.74 (2024 Trendline Support)

Swing Levels

Daily Swing High: 73.11

Daily Swing Low: 68.39

Technical Indicators

Fibonacci: 65.74 aligns with 50% retracement from 2024’s peak rally (73.11→ 64.86)

RSI: Oversold at 28, suggesting potential rebound near 65.41 support.

MACD: Bearish histogram expansion below zero line, confirming downtrend

Intraday Trade Setups 💡

Trade Idea 1: Intraday Sell

Entry: 🎯 67.01 (Weekly Pivot Resistance)

Stop Loss: 🚫 67.72 (Resistance 3)

Take Profit 1: 🏁 65.74 (Support 1)

Take Profit 2: 🏁 64.86 (2025 Low)

Rationale: Price faces rejection at 67.01 (weekly pivot + descending trendline) amid bearish MACD momentum

Trade Idea 2: Intraday Buy

No valid setup below DCMP meets risk-reward criteria due to lack of bullish confirmation.

Strategic Insights & Risk Management 🔧

Bearish Catalyst: Sustained trading below 66.29 DCMP could accelerate declines toward 64.86 (2025 low)

Bullish Reversal Signal: Close above 67.72 needed to invalidate bearish structure.

Fundamental Driver: Monitor OPEC+ output decisions and US crude inventories

Technical Tools in Focus 🛠️

Price Channels: Descending channel from 73.11 signals dominant bearish bias

Volume Profile: Thin liquidity near 67.01 increases volatility risks.

Elliott Wave: Potential Wave C extension if 64.86 support breaks

Final Note: Focus on 64.86-67.01 range for breakout confirmation. Bearish bias prevails below 66.84 resistance