USOIL Technical Analysis: Downtrend

USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $72.94 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 $72.24, and we will target $71.35 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $73.87 per barrel

USOIL Technical Analysis: On the other hand

In case of breaking the buy zone at $73.87 per barrel, the additional support level at $74.49 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and support levels

  • Second resistance: 73.60
  • First resistance: 73.35
  • Pivot level: 73.19
  • First support: 72.78
  • Second support: 72.53
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