USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $67.61 per barrel. According to the technical analysis, the current trend indicates a weak upward trend with prices trading below the moving average crossovers, and the MACD indicator shows a negative trend
Accordingly, we can sell while waiting for the price to drop to $67.27, and we will target $66.81 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.20 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $68.20 per barrel, the additional resistance level at $68.55 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 68.75
- First Resistance: 68.26
- Pivot Level: 67.99
- First Support: 67.50
- Second Support: 67.23
