USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $77.62 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 sell while waiting for the price to rise to $78.30, and we will target $79.22 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $76.24 per barrel.
USOIL Technical Analysis: On the other hand
In case the selling zone at $76.24 per barrel is broken, the additional support level at $75.54 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 78.53
- First Resistance: 78.06
- Pivot Level: 77.50
- First Support: 77.03
- Second Support: 76.47
