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: Resistance and Support Levels
- Second Resistance: 70.85
- First Resistance: 70.40
- Pivot Level: 69.95
- First Support: 69.49
- Second Support: 69.10