USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $71.24 per barrel. According to the technical analysis, the current trend indicates a bearish trend with prices trading below the moving average intersections, and the MACD indicator shows a negative trend
Accordingly, you can sell while waiting for the price to drop to 70.07, and we will target $69.16 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $70.95 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $71.95 per barrel, the additional resistance level at $72.87 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.66
- First resistance: 71.49
- Pivot level: 71.27
- First support: 71.10
- Second support: 70.88
