USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $68.87 per barrel. According to the technical analysis, the current trend indicates an uptrend with prices trading above the moving average intersections, and the MACD indicator shows a positive trend
Accordingly, buying can rise to the price of 69.38 and we will target $69.98 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.01 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $68.01 per barrel, the additional support level at $67.56 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.80
- First resistance: 69.40
- Pivot level: 68.99
- First support: 68.50
- Second support: 68.10
