USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $72.88 per barrel. According to the technical analysis, the current trend indicates a weak downward trend with prices trading above the moving average intersections, and the MACD indicator shows a weak negative trend
Accordingly, you can buy while waiting for the price to rise to 73.56, and we will target $74.57 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.36 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $71.36 per barrel, the additional resistance level at $70.66 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 73.28
- First Resistance: 73.06
- Pivot Level: 72.82
- First Support: 72.60
- Second Support: 72.36
