Macro PVVM Analysis:
The Macro PVVM score provides us with an understanding of the long-term trend of the asset. On 7/10/2023, the Macro PVVM was at -9, indicating a slightly bearish sentiment in the long-term. However, by 7/20/2023, it had climbed to 60, suggesting a notable strengthening of the bullish trend.
Considering the range of the Macro PVVM (-150 to 150), the asset is not yet overbought, but the increasing trend signifies a positive sentiment in the long-term. This suggests that
USOIL might have potential for further growth in the foreseeable future.
Micro PVVM Analysis:
The Micro PVVM score represents the short-term trend of the asset. On 7/10/2023, the Micro PVVM was at 98, which indicates a strongly bullish sentiment in the short-term. However, it experienced a slight dip to 72 by 7/20/2023. The momentum seems to be weakening slightly, as it has declined from the peak of 114 seen on 7/12/2023.
Key Takeaways:
1. The long-term trend ofOILUSD has turned bullish, as evidenced by the increasing Macro PVVM score.
2. The short-term trend has been predominantly bullish, though it experienced a slight decline in recent days.
Trade Idea:
Considering the current technical analysis, you might consider a long position inUSOIL . Traders could wait for the correction expected by the Micro PVVM to end and then enter long positions.
The Macro PVVM score provides us with an understanding of the long-term trend of the asset. On 7/10/2023, the Macro PVVM was at -9, indicating a slightly bearish sentiment in the long-term. However, by 7/20/2023, it had climbed to 60, suggesting a notable strengthening of the bullish trend.
Considering the range of the Macro PVVM (-150 to 150), the asset is not yet overbought, but the increasing trend signifies a positive sentiment in the long-term. This suggests that
USOIL might have potential for further growth in the foreseeable future.Micro PVVM Analysis:
The Micro PVVM score represents the short-term trend of the asset. On 7/10/2023, the Micro PVVM was at 98, which indicates a strongly bullish sentiment in the short-term. However, it experienced a slight dip to 72 by 7/20/2023. The momentum seems to be weakening slightly, as it has declined from the peak of 114 seen on 7/12/2023.
Key Takeaways:
1. The long-term trend of
OILUSD has turned bullish, as evidenced by the increasing Macro PVVM score.2. The short-term trend has been predominantly bullish, though it experienced a slight decline in recent days.
Trade Idea:
Considering the current technical analysis, you might consider a long position in
USOIL . Traders could wait for the correction expected by the Micro PVVM to end and then enter long positions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.