USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $68.10 per barrel. According to technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator shows a negative trend
Accordingly, you can sell while waiting for the price to drop to $67.74, and we will target $67.27 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $68.62 per barrel.
USOIL Technical Analysis: On the other hand,
if the buying zone at $68.62 per barrel is broken, the additional resistance level at $68.94 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 68.88
- First resistance: 68.55
- Pivot level: 68.21
- First support: 67.88
- Second support: 67.54
