USOIL Technical Analysis Today’s oil price, in the global oil market, is trading at $71.53 per barrel. According to technical analysis, the current trend indicates an uptrend with prices trading above the moving average crossovers, and the MACD indicator indicates a positive trend.
Accordingly, we can buy while waiting for the price to rise to $72.26, and we will target $73.36 per barrel as a profit-taking target. To ensure risk control, it is recommended to place a stop-loss point at $70.20 per barrel.
USOIL Technical Analysis: On the other hand,
if the sell zone at $70.20 per barrel is broken, an additional support level at $69.38 per barrel could be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 71.93
- First Resistance: 71.78
- Pivot Level: 71.62
- First Support: 71.47
- Second Support: 71.31
