USOIL Technical Analysis: Today, oil is trading in a downtrend, recording a high of $72.02 and a low of $70.28. Currently, oil is trading at $70.47. These movements indicate a decline in prices within a narrow trading range, reflecting relative stability with a downtrend.
USOIL Technical Analysis: Technical Analysis
- Moving Averages:
Oil is trading below the moving averages, indicating that the market is in a downtrend. This signal is considered negative, as trading below these averages means that sellers are currently controlling the market, which increases the likelihood of the downtrend continuing in the near term.
- MACD Indicator:
The MACD indicator also supports the negative trend in the market, as it indicates weak buying momentum and the superiority of selling power. This signal contributes to consolidating the negative view of the market, which increases the likelihood of further decline in prices.
Market Outlook:
Based on the current technical analysis, oil is expected to remain in a downtrend in the short term, as long as it continues to trade below the moving averages. If the negative indicators continue, oil may test lower support levels. It is important to follow any economic developments or geopolitical events that may affect supply and demand, which may change the market’s course.

Trading strategies based on Buy/Sell level
USOIL | In case of buying | in case of selling |
Entry point | 71.72 | 69.73 |
Target Point 1 (TP1) | First resistance: 72.50 | First support: 68.59 |
Target Point 2 (TP2) | Second resistance: 73.00 | Second support: 68.00 |
Stop Loss (SL) | 69.73 | 71.72 |
Looking at the current technical indicators, oil appears to be in a bearish phase, trading below the moving averages and negative signals from the MACD. Traders should be cautious, especially in this bearish trend, and watch key support and resistance levels to identify potential opportunities.