USOil Technical Analysis: Today, oil is trading in an upward trend, rising from a low of $69.54 per barrel to a high of $72.21 per barrel. Currently, oil is trading at $71.69 per barrel, reflecting positive momentum in the market.
USOIL Technical Analysis: Technical Analysis
- Moving Average Indicators: Prices are trading above the moving averages, reflecting the strength of the bullish trend. This situation reinforces the positive outlook for the market.
- MACD Indicator: The MACD indicator is showing the beginning of a positive turn, supporting the bullish possibilities and indicating the continuation of the bullish momentum.
Trading Forecast for Today
Oil is expected to continue its upward trend in the coming hours, given the current positive momentum. Support levels at $70.00 per barrel and resistance at $72.50 per barrel should be monitored.
Trading strategies based on Buy/Sell level
| USOIL | In case of buying | in case of selling |
| Entry point | 72.39 | 69.72 |
| Target Point 1 (TP1) | First resistance: 73.55 | First support: 68.81 |
| Target Point 2 (TP2) | Second resistance: 73.80 | Second support: 68.62 |
| Stop Loss (SL) | 69.72 | 72.39 |
Oil remains in an uptrend, with signals supporting the continuation of this trend. It is important to follow technical indicators and relevant global news to ensure informed trading decisions.
