📊USOIL 23rd December 2024 Daily Analysis Based on Main Key Levels

📍 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.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 70.45

Resistance 2: 70.99

Resistance 3: 71.87

✅ Support (Below DCMP)

Support 1: 68.70

Support 2: 68.16

Support 3: 67.29

📉Swing Levels

Swing High: 71.38

Swing Low: 68.84

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

💼 Intraday Buy Trade

Entry Price: ✨ 69.58

Stop Loss: ❌ 69.26

Take Profit 1: 🎯 70.00

Take Profit 2: 🎯 70.45

📌 Reason for Entry

The price is approaching a key support level at 69.58, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 70.45

Stop Loss: ❌ 70.61

Take Profit 1: 🎯 70.99

Take Profit 2: 🎯 71.87

📌 Reason for Entry

Resistance at 70.45 suggests a potential selling opportunity, with targets set above this level.

💡 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!