USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $73.73 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 $74.68, and we will target $75.87 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.88 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $71.88 per barrel, the additional support level at $70.95 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 74.42
- First resistance: 74.11
- Pivot level: 73.79
- First support: 73.48
- Second support: 73.16
