USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $67.94 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, you can sell while waiting for the price to drop to $67.00, and we will target $65.84 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $69.26 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buying zone at 69.26 per barrel, the additional resistance level at $70.18 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.24
- First resistance: 68.43
- Pivot level: 67.95
- First support: 69.24
- Second support: 66.66
