USOil Technical Analysis: Today, oil is trading in a bearish trend, as it recorded its highest price so far at 74.91 and the lowest price at 73.67, and it currently stands at 74.17. This movement indicates weak upward momentum and the presence of downward pressure on the market, reflecting the continuation of the current downward trend.
USOIL Technical Analysis: Price Analysis
Prices are currently trading below the major moving averages, reflecting the weakness of the upward trend and reinforcing the downward trend hypothesis in the near term. This trading below the moving averages indicates that selling pressure is dominating the market, which weakens purchasing power.
Technical Analysis:
- Moving Averages: Trading oil below the major moving averages reflects the continuation of the downward trend, as these averages are considered strong resistance levels that may prevent prices from rising. If prices continue below these averages, the downward trend is likely to continue in the short term.
- MACD Indicator: The MACD indicator is showing a negative trend, as it is trading in the negative territory, indicating weak bullish momentum and increasing selling power in the market. This signal supports the idea that oil may face further downward pressure in the upcoming sessions.
Future Outlook:
Based on the current technical analysis, oil is likely to continue its downward trend in the near term, especially if it continues to trade below the moving averages. The MACD indicator continuing to point in the negative direction enhances the chances of further declines, with the possibility of testing the next support levels.

Trading strategies based on Buy/Sell level
USOIL | In case of buying | in case of selling |
Entry point | 75.11 | 73.67 |
Target Point 1 (TP1) | First resistance: 75.75 | First support: 72.93 |
Target Point 2 (TP2) | Second resistance: 76.20 | Second support: 72.40 |
Stop Loss (SL) | 73.67 | 75.11 |
Oil is currently experiencing clear downward pressure, with prices trading below the moving averages and negative signals from the MACD. The downtrend is expected to continue in the near term, with potential for additional pullbacks if selling pressure persists. It is important to monitor future support levels to identify selling opportunities if these negative signals persist.