USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.16 per barrel. According to the 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 $71.45, and we will target $7192 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $70.38 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $70.38 per barrel, the additional support level at $70.04 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 71.74
- First Resistance: 71.50
- Pivot Level: 71.23
- First Support: 70.99
- Second Support: 70.72
