USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $70.46 per barrel. According to technical analysis, the current trend indicates an upward trend with prices trading below the moving average intersections, and the MACD indicator shows a positive trend
Accordingly, you can buy while waiting for the price to rise to 70.77, and we will target $71.26 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.84 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $69.84 per barrel, the additional resistance level at $69.52 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 70.81
- First resistance: 70.61
- Pivot level: 70.41
- First support: 70.21
- Second support: 70.01
