USOIL Technical Analysis: USOIL Weak Rise

USOil Technical Analysis :Oil closed last week, in the global oil market, at a price of $70.18 per barrel. According to the technical analysis, the current trend indicates a weak upward trend with prices trading below the moving average intersections, and the MACD indicator shows weak positive signals

Accordingly, it is possible to buy in the first sessions of this week in the Asian session from the rise to a price of 70.85, and we will target $71.70 per barrel as a target to take profits. To ensure risk control, it is recommended to set a stop loss at $69.05 per barrel.

USOIL Technical Analysis: On the other hand

In the event of breaking the selling zone at $69.05 per barrel, the additional support level at $68.36 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and Support Levels

  • Second Resistance: 70.62
  • First Resistance: 70.49
  • Pivot Level: 70.25
  • First Support: 70.05
  • Second Support: 69.90
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