USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $70.49 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 $69.91, and we will target $69.16 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.52 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $71.52 per barrel, the additional resistance level at $72.14 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 70.99
- First Resistance: 70.81
- Pivot Level: 70.49
- First Support: 70.31
- Second Support: 69.99
