USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.87 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 buy while waiting for the price to rise to $72.52, and we will target $73.44 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $70.56 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at 70.56 per barrel, the additional resistance level at $69.88 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 72.60
- First resistance: 72.30
- Pivot level: 71.90
- First support: 71.40
- Second support: 71.10
