USOIL Technical Analysis Today’s oil price in the global oil market is trading at $66.50 per barrel. According to technical analysis, the current trend indicates a downward trend with prices trading below the moving average crossovers, and the MACD indicator indicates a negative trend.
Accordingly, we can sell while waiting for the price to drop to $65.45, and we will target $64.33 per barrel as a profit-taking target. To ensure risk control, it is recommended to place a stop-loss point at $67.97 per barrel.
USOIL Technical Analysis: On the other hand,
if the buy zone at $67.97 per barrel is broken, an additional resistance level at $68.98 per barrel could be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 66.71
- First Resistance: 66.63
- Pivot Level: 66.50
- First Support: 66.42
- Second Support: 66.31
