USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $70.84 per barrel. According to technical analysis, the current trend indicates an upward trend with prices trading above the moving average intersections, and the MACD indicator shows a positive trend
Accordingly, you can buy while waiting for the price to rise to 71.42, and we will target $72.73 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $70.30 per barrel.
USOIL Technical Analysis: On the other hand
In the event of breaking the selling zone at $70.30 per barrel, the additional support level at $69.01 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second Resistance: 72.78
- First Resistance: 71.75
- Pivot Level: 70.70
- First Support: 69.70
- Second Support: 68.70
