USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $71.81 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 sell while waiting for the price to drop to $71.08, and we will target $70.20 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $72.73 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $72.73 per barrel, the additional resistance level at $73.45 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 72.51
- First resistance: 72.29
- Pivot level: 71.98
- First support: 71.76
- Second support: 71.45
