USOIL Technical Analysis Today’s oil price in the global oil market is trading at $71.00 per barrel. According to technical analysis, the current trend indicates an upward trend with prices trading above the moving average crossovers, and the MACD indicator indicates a positive trend.
Accordingly, we can buy while waiting for the price to rise to $71.84, and we will target $71.86 per barrel as a profit-taking target. To ensure risk control, it is recommended to place a stop-loss point at $69.53 per barrel.
USOIL Technical Analysis: On the other hand,
if the sell zone at $69.53 per barrel is broken, an additional resistance level at $68.67 per barrel could be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 71.28
- First Resistance: 71.16
- Pivot Level: 71.04
- First Support: 70.92
- Second Support: 70.80
