USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $73.02 per barrel. According to the technical analysis, the current trend indicates an upward trend with prices trading above the moving average intersections, and the MACD indicator also shows a positive trend
Accordingly, buying can rise to the price of 73.58 and we will target $74.41 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.67 per barrel.
USOil Technical Analysis: On the other hand
In case of breaking the selling zone at $71.67 per barrel, the additional support level at $71.18 per barrel can be targeted.
USOil Technical Analysis: Resistance and support levels
- Second resistance: 73.67
- First resistance: 73.46
- Pivot level: 73.12
- First support: 72.91
- Second support: 72.57
