USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.43 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 $68.64, and we will target $67.54 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $70.68 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buying zone at 70.68 per barrel, the additional resistance level at $71.43 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 70.30
- First resistance: 69.90
- Pivot level: 69.55
- First support: 69.10
- Second support: 68.70
