USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $69.79 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 buy while waiting for the price to rise to 70.59, and we will target $71.60 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.61 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $68.61 per barrel, the additional resistance level at $67.87 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 70.60
- First Resistance: 70.34
- Pivot Level: 69.96
- First Support: 69.70
- Second Support: 69.32
