USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $72.82 per barrel. According to the technical analysis, the current trend indicates a weak upward trend with prices trading above the moving average intersections, and the MACD indicator shows a weak positive trend
Accordingly, you can sell while waiting for the price to drop to $72.34, and we will target $71.74 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $73.50 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $73.50 per barrel, the additional support level at $73.92 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 73.55
- First Resistance: 73.30
- Pivot Level: 72.99
- First Support: 72.61
- Second Support: 72.40
