USOIL Technical Analysis: Today (January 24, 2025) oil is trading in a bearish trend, recording its highest trading price so far at 75.06 and its lowest at 73.82. Currently, oil is trading at 74.86, reflecting the continued negative pressure in the market.
USOIL Technical Analysis: Technical Analysis
Price action indicates that oil is trading below the moving averages on various time frames, which indicates a strong bearish trend. Trading below these averages reflects weak buying momentum, which reinforces the current negative trend in the market.
In addition, the MACD indicator reflects negative signals, as it shows a bearish crossover with the signal line, which reinforces the hypothesis of a continuation of the bearish trend in the short term.
Future Analysis:
If oil continues to trade below the moving averages, it is likely to witness further decline towards lower support levels. Oil may test the 73.82 level again, and if it is broken, it may head to new bearish levels. However, in case of an upward correction or a breakout of the moving averages to the upside, this may indicate a possible trend reversal in the future.

Trading strategies based on Buy/Sell level
USOIL | In case of buying | in case of selling |
Entry point | 75.55 | 74.26 |
Target Point 1 (TP1) | First resistance: 76.09 | First support: 73.42 |
Target Point 2 (TP2) | Second resistance: 76.55 | Second support: 73.09 |
Stop Loss (SL) | 74.26 | 75.55 |
Current technical analysis indicates that oil is in a downtrend supported by prices trading below the moving averages and negative signals from the MACD indicator. It is important to follow the support and resistance levels to determine whether this downtrend will continue or whether any reversal in the market is possible.