USOIL Technical Analysis In the global oil market at $66.27 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 negative signals
Accordingly, selling in the Asian session can drop to a price of 65.42, and we will target 64.31 to buy per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $67.29 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $67.29 per barrel, the additional support level at $68.05 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 66.76
- First resistance: 66.51
- Pivot level: 66.27
- First support: 66.02
- Second support: 65.70
