USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $73.58 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 74.49, and we will target $75.85 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $72.08 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $72.08 per barrel, the additional support level at $70.95 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 74.19
- First Resistance: 74.01
- Pivot Level: 73.78
- First Support: 73.60
- Second Support: 73.30
