⛽ USOIL Daily Analysis Based on Main Key Levels - 8 April 2025

Daily Current Market Price (DCMP): 🔵 60.96

Price trades ABOVE immediate support (60.51) but BELOW pivotal resistance (64.99)

🚩 Critical Price Zones

Resistance (Sell Areas):

🔥 64.99 (Weekly pivot confluence)

🔥 66.13 (Daily structural barrier)

🔥 69.47 (Multi-session ceiling)

Support (Buy Areas):

🛡️ 60.51 (Liquidity-rich baseline)

🛡️ 59.36 (Order block cluster)

🛡️ 57.74 (Long-term demand zone)

🔍 Technical Snapshot

Swing Levels:

Daily High: 73.11 | Daily Low: 68.87

4H High: 64.26 | 4H Low: 61.23

Fibonacci:

61.8% Retracement at 62.40 | 127% Extension at 67.80

Momentum:

RSI hovering near 48 (neutral-bearish bias) | MACD histogram flattening below zero

Price Action:

Descending channel pattern with weak closes below 64.99

💡 Trade Setups

Intraday Buy (Long)

🎯 Entry: 60.51 (Demand confluence)

🔴 Stop Loss: 59.36 (Lower timeframe swing low)

✅ Take Profit 1: 61.23 (Daily pivot)

✅ Take Profit 2: 60.96 (DCMP retest)

Rationale: Alignment with 78.6% Fib level and bullish divergence on 4H timeframe 📉→💥

Intraday Sell (Short)

🎯 Entry: 64.99 (Weekly pivot resistance)

🔴 Stop Loss: 66.13 (Upper swing high)

✅ Take Profit 1: 61.23 (Daily pivot support)

✅ Take Profit 2: 60.51 (Key demand zone)

Rationale: Bearish rejection at confluence of 50D SMA and descending trendline 📉→🎯

⚡ Key Observations

DCMP 60.96 coincides with 20EMA (60.80), acting as temporary equilibrium

Volume spikes below 60.51 suggest stop-loss hunting in thin liquidity

Bullish divergence developing on hourly Stochastic oscillator

Risk Alert: Monitor EIA crude inventory data at 14:30 GMT – Surprise build above expectations could trigger 3% drop below 60.51 support.