USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $72.13 per barrel. According to the technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator also shows a negative trend
Accordingly, the sale can be from the drop to the price of 71.76, and we will target $72.08 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $72.56 per barrel.
USOil Technical Analysis: On the other hand
In case of breaking the buy zone at $72.56 per barrel, the additional support level at $73.19 per barrel can be targeted.
USOil Technical Analysis: Resistance and support levels
- Second resistance: 74.88
- First resistance: 73.65
- Pivot level: 72.39
- First support: 71.00
- Second support: 70.35
