USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.36 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 positive trend
Accordingly, you can buy while waiting for the price to rise to $71.79, and we will target $72.42 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $70.52 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $70.52 per barrel, the additional support level at $70.08 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.80
- First resistance: 71.60
- Pivot level: 71.40
- First support: 71.18
- Second support: 70.95
