USOIL Technical Analysis: Oil decline

USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.78 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 $68.98, and we will target $67.76 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $71.31 per barrel.

USOIL Technical Analysis: On the other hand,

if the buying zone at 71.31 per barrel is broken, the additional resistance level at $72.08 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and Support Levels

  • Second Resistance: 70.85
  • First Resistance: 70.40
  • Pivot Level: 69.95
  • First Support: 69.49
  • Second Support: 69.10
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