USOIL Technical Analysis The price of oil today, in the global oil market, is trading at $68.66 per barrel. According to the technical analysis, the current trend indicates a bearish trend with prices trading above the moving average intersections, and the MACD indicator shows a negative trend
Accordingly, you can sell while waiting for the price to drop to $67.69, and we will target $66.64 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $70.17 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $70.17 per barrel, the additional resistance level at $71.15 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.00
- First resistance: 70.58
- Pivot level: 69.73
- First support: 69.31
- Second support: 68.46
