Crude Oil (USOIL) Poised for a Potential 10% or Greater Decline in the Coming Months
Crude Oil (USOIL) Poised for a Potential 10% or Greater Decline in the Coming Months
%20Poised%20for%20a%20Potential%2010%25%20or%20Greater%20Decline%20in%20the%20Coming%20Months.jpeg "Crude Oil (USOIL) Poised for a Potential 10% or Greater Decline in the Coming Months")
Crude Oil (USOIL) Poised for a Potential 10% or Greater Decline in the Coming Months
Crude Oil (USOIL) Poised for a Potential 10% or Greater Decline in the Coming Months - 20.03.2025
K KARTHIK RAJA (Market Educator & Technical Analyst)
MCA | MBA | M Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Chart Pattern
- The price action suggests a descending triangle formation.
- Multiple lower highs indicate weakening bullish momentum.
- Key support around $67.16 has been tested multiple times.
Trend Analysis
- Long-term trend: Bearish (since the peak around mid-2022).
- Medium-term trend: Sideways with a slight bearish bias.
- Short-term trend: Downtrend with a possible breakdown.
Dow Theory
- Primary trend: Bearish (Lower highs and lower lows).
- Secondary trend: Sideways consolidation after a major downtrend.
- Minor trend: Recent bearish movement suggests possible further decline.
Upcoming Events
- If this is crude oil (USOUSD), keep an eye on:
- EIA Inventory Reports
- OPEC+ Meetings
- US Fed Interest Rate Decisions
- Geopolitical Events Affecting Oil Supply & Demand
Volume Analysis
- Declining volume suggests weak buying interest.
- Spike in volume during breakdowns—indicating selling pressure.
Observations
- Bearish bias as price stays below long-term resistance.
- If support at $67.16 breaks, expect further decline.
- If price rebounds, it may face resistance at $72.80.
Breakout Strategy (Bullish)
- Entry: Above $72.80 | Stop-loss: Below $70.
- Target 1: $78.50 | Target 2: $83.91
Breakdown Strategy (Bearish)
- Entry: Below $67.16 | Stop-loss: Above $70.
- Target 1: $61.75 | Target 2: $50.65
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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