USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $78.15 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 sell while waiting for the price to rise to $78.86, and we will target $79.91 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $76.71 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $76.71 per barrel, the additional support level at $75.80 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 79.00
- First resistance: 78.57
- Pivot level: 77.99
- First support: 77.56
- Second support: 76.98
