USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $70.09 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 70.40, and we will target $70.82 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.54 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $69.54 per barrel, the additional resistance level at $69.24 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 70.71
- First Resistance: 70.43
- Pivot Level: 70.25
- First Support: 69.97
- Second Support: 69.79
