USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $65.68 per barrel. According to technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator shows a negative trend
Accordingly, it is possible to sell from the decline to the price of 65.30 and we will target $64.60 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $66.60 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $66.60 per barrel, the additional support level at $67.10 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 66.40
- First resistance: 65.92
- Pivot level: 65.78
- First support: 65.20
- Second support: 64.80
