USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $65.14 per barrel. According to technical analysis, the current trend indicates a downtrend with prices trading above the moving average intersections, and the MACD indicator shows a negative trend
Accordingly, you can sell while waiting for the price to drop to 63.88, and we will target $62.33 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $66.97 per barrel.
USOIL Technical Analysis: On the other hand
In case the buy zone at $66.97 per barrel is broken, the additional resistance level at $68.14 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 65.74
- First Resistance: 65.49
- Pivot Level: 65.18
- First Support: 64.93
- Second Support: 64.62
