USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $72.51 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 rise to 73.21, and we will target $74.15 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.40 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $71.40 per barrel, the additional support level at $70.64 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 73.14
- First resistance: 72.74
- Pivot level: 72.52
- First support: 72.12
- Second support: 71.90
