USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $67.66 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 the price of 67.02 and we will target $66.16 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.69 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $68.69 per barrel, the additional support level at $69.33 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 68.68
- First resistance: 68.20
- Pivot level: 67.88
- First support: 67.10
- Second support: 66.70
