USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $70.58 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 positive-negative trend
Accordingly, you can sell while waiting for the price to drop to 70.05, and we will target $69.18 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.39 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $71.39 per barrel, the additional resistance level at $72.09 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 71.10
- First Resistance: 70.78
- Pivot Level: 70.54
- First Support: 70.22
- Second Support: 69.98
