USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $71.90 per barrel. According to the technical analysis, the current trend indicates a weak upward trend with prices trading above the moving average intersections, and the MACD indicator shows a weak positive trend
Accordingly, you can buy while waiting for the price to rise to 72.63, and we will target $73.48 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.19 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $71.19 per barrel, the additional resistance level at $70.54 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 72.49
- First Resistance: 72.25
- Pivot Level: 72.12
- First Support: 71.88
- Second Support: 71.75
