UNITED STATES OIL FUND - Daily - Technical analysis published on 11/28/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 68.24 USD
My targets
63.27 USD (-2.96%)
58.16 USD (-10.80%)
My analysis
The bearish trend is currently very strong for UNITED STATES OIL FUND. As long as the price remains below the resistance at 68.24 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 63.27 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 58.16 USD as an objective. Crossing it would then enable sellers to target 46.80 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.3
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This analysis was given by gioviforex. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The UNITED STATES OIL FUND price is 65.20 USD. The price is lower by -2.63% since the last closing and was traded between 65.06 USD and 65.24 USD over the period. The price is currently at +0.22% from its lowest and -0.06% from its highest.65.06
65.24
65.20
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of UNITED STATES OIL FUND indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 25.47 | 46.80 | 63.27 | 65.20 | 68.24 | 78.75 | 85.28 |
| Change (%) | -60.94% | -28.22% | -2.96% | - | +4.66% | +20.78% | +30.80% |
| Change | -39.73 | -18.40 | -1.93 | - | +3.04 | +13.55 | +20.08 |
| Level | Minor | Minor | Major | - | Major | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 64.62 | 65.70 | 66.33 | 67.41 | 68.04 | 69.12 | 69.75 |
| Camarilla | 66.49 | 66.65 | 66.80 | 66.96 | 67.12 | 67.27 | 67.43 |
| Woodie | 64.40 | 65.59 | 66.11 | 67.30 | 67.82 | 69.01 | 69.53 |
| Fibonacci | 65.70 | 66.35 | 66.76 | 67.41 | 68.06 | 68.47 | 69.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 59.24 | 62.31 | 64.63 | 67.70 | 70.02 | 73.09 | 75.41 |
| Camarilla | 65.48 | 65.97 | 66.47 | 66.96 | 67.45 | 67.95 | 68.44 |
| Woodie | 58.88 | 62.12 | 64.27 | 67.51 | 69.66 | 72.90 | 75.05 |
| Fibonacci | 62.31 | 64.37 | 65.64 | 67.70 | 69.76 | 71.03 | 73.09 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58.16 | 62.66 | 67.10 | 71.60 | 76.04 | 80.54 | 84.98 |
| Camarilla | 69.07 | 69.89 | 70.71 | 71.53 | 72.35 | 73.17 | 73.99 |
| Woodie | 58.12 | 62.65 | 67.06 | 71.59 | 76.00 | 80.53 | 84.94 |
| Fibonacci | 62.66 | 66.08 | 68.19 | 71.60 | 75.02 | 77.13 | 80.54 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 38.23 | |
| MACD (12,26,9): | -0.9400 | |
| Directional Movement: | -17.17 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 70.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 74.18 | |
| Elder Ray (13): | -2.64 | |
| Super Trend (3,10): | 74.94 | |
| Zig ZAG (10): | 66.96 | |
| VORTEX (21): | 0.7800 | |
| Stochastique (14,3,5): | 22.24 | |
| TEMA (21): | 68.92 | |
| Williams %R (14): | -87.13 | |
| Chande Momentum Oscillator (20): | -7.51 | |
| Repulse (5,40,3): | -1.3400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 12.25 |
| MA7: | 69.23 | |
| MA20: | 72.04 | |
| MA50: | 70.68 | |
| MA100: | 72.48 | |
| MAexp7: | 69.10 | |
| MAexp20: | 70.86 | |
| MAexp50: | 71.56 | |
| MAexp100: | 72.35 | |
| Price / MA7: | -5.82% | |
| Price / MA20: | -9.49% | |
| Price / MA50: | -7.75% | |
| Price / MA100: | -10.04% | |
| Price / MAexp7: | -5.64% | |
| Price / MAexp20: | -7.99% | |
| Price / MAexp50: | -8.89% | |
| Price / MAexp100: | -9.88% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
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