USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $73.51 per barrel. According to technical analysis, the current trend indicates a weak 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 $74.33, and we will target $75.61 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $71.63 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling area at 71.63 per barrel, the additional resistance level at $70.60 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 74.08
- First resistance: 73.96
- Pivot level: 70.80
- First support: 73.41
- Second support: 73.35
