USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $74.42 per barrel. According to the technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator also shows a negative trend
Accordingly, it is possible to sell from the decline to a price of 73.84, and we will target $72.99 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $75.43 per barrel.
USOil Technical Analysis: On the other hand
In case of breaking the buy zone at $75.43 per barrel, the additional support level at $75.98 per barrel can be targeted.
USOil Technical Analysis: Resistance and support levels
- Second resistance: 75.91
- First resistance: 75.52
- Pivot level: 74.80
- First support: 74.41
- Second support: 73.69
