USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.17 per barrel. According to technical analysis, the current trend indicates an upward trend with prices trading above the moving average intersections, and the MACD indicator shows a positive trend
Accordingly, you can buy while waiting for the price to rise to $71.90, and we will target $72.93 per barrel as a target to take profits. To ensure risk control, it is recommended to set a stop loss at $70.57 per barrel.
USOIL Technical Analysis: On the other hand
In the event of breaking the selling zone at $70.57 per barrel, the additional support level at $69.35 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second Resistance: 71.88
- First Resistance: 71.15
- Pivot Level: 70.10
- First Support: 69.50
- Second Support: 68.00
