USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $68.87 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 69.46, and we will target $70.22 per barrel as a target to take profits. To ensure risk control, it is recommended to set a stop loss at $67.98 per barrel.
USOIL Technical Analysis: On the other hand
In the event of breaking the selling zone at $67.98 per barrel, the additional resistance level at $67.41 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 69.60
- First Resistance: 69.30
- Pivot Level: 68.97
- First Support: 68.65
- Second Support: 68.44
