USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.58 per barrel. According to the technical analysis, the current trend indicates an upward trend with prices trading above the moving average intersections, and the MACD indicator shows a positive trend
Accordingly, you can buy while waiting for the price to rise to $69.91, and we will target $70.45 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.87 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $68.87 per barrel, the additional resistance level at $68.57 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 70.45
- First Resistance: 70.20
- Pivot Level: 69.82
- First Support: 69.19
- Second Support: 68.94
