USOIL Technical Analysis: Today’s oil price, in the global oil market, is trading at $66.10 per barrel. According to the 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 $65.37, and we will target $64.25 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $67.70 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $67.70 per barrel, the additional resistance level at $68.51 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 66.71
- First Resistance: 66.45
- Pivot Level: 66.15
- First Support: 65.89
- Second Support: 65.59
