PVVM Analysis & Trade Idea - USOIL

2023年7月23日

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 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.