USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.14 per barrel. According to 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 $71.71, and we will target $72.59 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $69.49 per barrel.
USOIL Technical Analysis: On the other hand,
if the selling zone at $69.49 per barrel is broken, the additional resistance level at $68.77 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.79
- First resistance: 71.42
- Pivot level: 71.22
- First support: 69.90
- Second support: 69.75
