The USOIL market has witnessed significant fluctuations recently. Yesterday, the price broke below the key support level of $61.5, and then it has been declining all the way. As of today, it has approached the vicinity of $59.5. This downward trend reflects that the bearish force currently dominates the market.
From a technical analysis perspective, once the support level of $61.5 is broken, its nature will transform into a strong resistance level. The rapid decline of the price to $59.5 indicates strong bearish momentum. Currently, the focus of the market is on the $59 mark, which is of crucial importance. If this support level is breached, according to the continuity of the price trend and the technical pattern, USOIL is highly likely to continue to decline further. The next important support level is around $57.5. Conversely, if the price can be effectively supported near $59, based on the technical repair demand after being oversold, the price is expected to rebound.
Based on the above analysis, in terms of trading strategy, investors can consider taking a short position near $60. If the price breaks below $59, the short position can be held, with the target price set at $57.5. If the price stabilizes and rebounds near $59, the stop-loss order should be executed in a timely manner to avoid expanding losses. Given the frequent release of important data recently and the significant impact of these data, market volatility will increase significantly. Investors must trade with caution, strictly control their positions, and set reasonable stop-loss levels to cope with the possible sharp price fluctuations.
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
From a technical analysis perspective, once the support level of $61.5 is broken, its nature will transform into a strong resistance level. The rapid decline of the price to $59.5 indicates strong bearish momentum. Currently, the focus of the market is on the $59 mark, which is of crucial importance. If this support level is breached, according to the continuity of the price trend and the technical pattern, USOIL is highly likely to continue to decline further. The next important support level is around $57.5. Conversely, if the price can be effectively supported near $59, based on the technical repair demand after being oversold, the price is expected to rebound.
Based on the above analysis, in terms of trading strategy, investors can consider taking a short position near $60. If the price breaks below $59, the short position can be held, with the target price set at $57.5. If the price stabilizes and rebounds near $59, the stop-loss order should be executed in a timely manner to avoid expanding losses. Given the frequent release of important data recently and the significant impact of these data, market volatility will increase significantly. Investors must trade with caution, strictly control their positions, and set reasonable stop-loss levels to cope with the possible sharp price fluctuations.
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
We share various trading signals every day, with an accuracy rate of over 90%.
Fans who follow us can obtain high returns every day.
If you have any questions, please feel free to contact me.
t.me/+ecBe8sCoopZhM2Nk
Fans who follow us can obtain high returns every day.
If you have any questions, please feel free to contact me.
t.me/+ecBe8sCoopZhM2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We share various trading signals every day, with an accuracy rate of over 90%.
Fans who follow us can obtain high returns every day.
If you have any questions, please feel free to contact me.
t.me/+ecBe8sCoopZhM2Nk
Fans who follow us can obtain high returns every day.
If you have any questions, please feel free to contact me.
t.me/+ecBe8sCoopZhM2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.