π Daily Current Market Price (DCMP) The current market price for USOIL is 69.69. This serves as a critical reference point for assessing trading opportunities.
Summary of Analysis The USOIL index is currently positioned at 69.69. Key resistance levels above the DCMP are 70.45, 70.99, and 71.87. The support levels below the DCMP are 68.70, 68.16, and 67.29. The swing high is at 71.38, and the swing low is at 68.84.
Suggested Trades
πΌ Intraday Buy Trade
Entry Price: β¨ 69.58 Stop Loss: β 69.26 Take Profit 1: π― 70.00 Take Profit 2: π― 70.45
π Reason for Entry The price is approaching a key support level at 69.58, indicating a favorable buying opportunity based on technical analysis.
πΌ Intraday Sell Trade
Entry Price: β¨ 70.45 Stop Loss: β 70.61 Take Profit 1: π― 70.99 Take Profit 2: π― 71.87
π Reason for Entry Resistance at 70.45 suggests a potential selling opportunity, with targets set above this level.
π‘ Conclusion This analysis provides a concise overview of key levels and trade opportunities for USOIL. By monitoring these levels, traders can make informed decisions in the current market environment. Happy trading!