USOil Technical Analysis :Oil closed last week in the global oil market at $66.87 per barrel. According to technical analysis, the current trend indicates a downward trend with prices trading below the moving average crossovers, and the MACD indicator shows negative signals
Accordingly, it is possible to sell in the first sessions of this week in the Asian session from the decline to a price of 65.74, and we will target $64.37 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.18 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $68.18 per barrel, the additional support level at $69.15 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 67.66
- First resistance: 67.30
- Pivot level: 66.98
- First support: 66.68
- Second support: 66.39
