USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $70.64 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 $71.22, and we will target $72.10 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.78 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $69.78 per barrel, the additional resistance level at $69.31 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.28
- First resistance: 71.00
- Pivot level: 70.86
- First support: 70.58
- Second support: 70.44
