USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $65.51 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 $64.34, and we will target $62.88 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $67.09 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $67.09 per barrel, the additional resistance level at $68.10 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 66.68
- First resistance: 66.22
- Pivot level: 65.35
- First support: 64.89
- Second support: 64.02
