USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $70.04 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 weak negative trend
Accordingly, you can buy while waiting for the price to rise to $70.39, and we will target $70.85 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.39 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $69.39 per barrel, the additional support level at $69.07 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 70.54
- First resistance: 70.40
- Pivot level: 70.26
- First support: 70.12
- Second support: 69.98
