USOil Technical Analysis: Today, the price of oil is trading in an upward trend, as the price of a barrel reached $74.59. Oil recorded its highest price today at $75.53 and its lowest price at $72.89, reflecting positive momentum in the market.
USOIL Technical Analysis: Trading Prices
- Current Price: $74.59 per barrel
- Today’s High: $75.53 per barrel
- Today’s Low: $72.89 per barrel
Technical Analysis
When analyzing the charts, we find that prices are trading above the moving average indicators, which supports the upward trend. Also, the MACD indicator shows a positive trend, despite some decline in momentum. This decline may indicate the possibility of a slight correction before the upward trend resumes.
Trading Expectations
Based on current data, the price of oil is expected to remain in an upward trend, with key levels such as $72.89 being monitored as support. Any break above $75.53 could boost the bullish momentum.
Trading strategies based on Buy/Sell level
| USOIL | In case of buying | in case of selling |
| Entry point | 75.36 | 73.05 |
| Target Point 1 (TP1) | First resistance: 76.36 | First support: 72.32 |
| Target Point 2 (TP2) | Second resistance: 76.88 | Second support: 71.90 |
| Stop Loss (SL) | 73.05 | 75.36 |
Oil remains in an uptrend, with signals supporting this move. Traders are advised to follow the market closely, as slight changes in momentum or economic events can affect price action.
