USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $68.31 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 $67.58, and we will target $66.73 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $69.55 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buying zone at 69.55 per barrel, the additional resistance level at $70.20 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 68.87
- First resistance: 68.60
- Pivot level: 68.48
- First support: 68.11
- Second support: 67.83
