USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $68.20 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 negative trend
Accordingly, you can sell while waiting for the price to drop to $67.26, and we will target $66.46 per barrel as a target to take profits. To ensure risk control, it is recommended to set a stop loss at $69.11 per barrel.
USOIL Technical Analysis: On the other hand
In the event of breaking the selling zone at $69.11 per barrel, the additional resistance level at $69.77 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 69.12
- First Resistance: 68.74
- Pivot Level: 68.26
- First Support: 67.88
- Second Support: 67.40
