USOIL Technical Analysis: Today’s oil price, in the global oil market, is trading at $67.59 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 $66.63, and we will target $65.23 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.14 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $69.14 per barrel, the additional resistance level at $70.10 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 68.39
- First resistance: 68.14
- Pivot level: 67.64
- First support: 67.39
- Second support: 66.89
