USOil Technical Analysis :Today’s oil price, in the global oil market, is trading at $69.12 per barrel. According to technical analysis, the current trend indicates a weak downward trend with prices trading above the moving average intersections, and the MACD indicator shows a weak negative trend
Accordingly, you can buy while waiting for the price to rise to $69.67, and we will target $70.54 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $68.15 per barrel.
USOIL Technical Analysis: On the other hand,
if the selling zone at $68.15 per barrel is broken, the additional resistance level at $67.51 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.60
- First resistance: 69.35
- Pivot level: 69.02
- First support: 68.77
- Second support: 68.44
