USOIL Technical Analysis Today’s oil price in the global oil market is trading at $67.99 per barrel. According to technical analysis, the current trend indicates an upward trend with prices trading above the moving average crossovers, and the MACD indicator indicates a positive trend.
Accordingly, we can buy while waiting for the price to rise to $68.78, and we will target $69.83 per barrel as a profit-taking target. To ensure risk control, it is recommended to place a stop-loss point at $66.67 per barrel.
USOIL Technical Analysis: On the other hand,
if the sell zone at $66.67 per barrel is broken, an additional resistance level at $65.81 per barrel could be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 68.23
- First Resistance: 68.13
- Pivot Level: 68.00
- First Support: 67.90
- Second Support: 67.77
