USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $73.18 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 drop to a price of 72.65, and we will target $71.94 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $74.25 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $74.25 per barrel, the additional support level at $74.74 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 73.99
- First resistance: 73.85
- Pivot level: 73.66
- First support: 72.95
- Second support: 72.55
