USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.83 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 $68.95, and we will target $67.79 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $71.21 per barrel.
USOIL Technical Analysis: On the other hand,
if the buying zone at $71.21 per barrel is broken, the additional resistance level at $72.00 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 70.69
- First resistance: 70.35
- Pivot level: 69.95
- First support: 69.50
- Second support: 69.12
