USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $69.55 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 $69.20, and we will target $68.76 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $70.18 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buying zone at 70.18 per barrel, the additional resistance level at $70.51 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.97
- First resistance: 69.85
- Pivot level: 69.72
- First support: 69.47
- Second support: 69.35
