USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $68.73 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 $68.07, and we will target $66.99 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.78 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $69.78 per barrel, the additional resistance level at $70.61 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.41
- First resistance: 69.07
- Pivot level: 68.80
- First support: 68.46
- Second support: 68.19
