USOIL Technical Analysis: Downtrend

USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $72.72 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 $72.22, and we will target $71.47 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $73.67 per barrel.

USOIL Technical Analysis: On the other hand

In case of breaking the buy zone at $73.67 per barrel, the additional support level at $74.28 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and Support Levels

  • Second Resistance: 73.01
  • First Resistance: 72.87
  • Pivot Level: 72.77
  • First Support: 72.63
  • Second Support: 72.53
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