USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $68.59 per barrel. According to technical analysis, the current trend indicates a downtrend with prices trading below the moving average intersections, and the MACD indicator shows a negative trend
Accordingly, you can sell while waiting for the price to drop to $68.22, and we will target $67.71 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.13 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $69.13 per barrel, the additional resistance level at $69.45 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 68.89
- First Resistance: 68.74
- Pivot Level: 68.54
- First Support: 68.39
- Second Support: 68.19
