USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $72.09 per barrel. According to the 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 $72.96, and we will target $73.78 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.41 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $71.41 per barrel, the additional support level at $70.81 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 72.60
- First Resistance: 72.30
- Pivot Level: 72.10
- First Support: 71.80
- Second Support: 71.50
