USOIL Technical Analysis: Downtrend

USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $74.52 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 buy while waiting for the price to drop to $73.72, and we will target $75.50 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $72.58 per barrel.

USOIL Technical Analysis: On the other hand

In case of breaking the selling zone at $72.58 per barrel, the additional support level at $71.74 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and Support Levels

  • Second Resistance: 75.30
  • First Resistance: 74.98
  • Pivot Level: 74.73
  • First Support: 74.41
  • Second Support: 74.16
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