USOil Technical Analysis: Today’s oil price, in the global oil market, is trading at $68.25 per barrel. According to technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator shows a weak negative trend
Accordingly, you can buy while waiting for the price to rise to $68.62, and we will target $69.06 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $67.67 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at 67.67 per barrel, the additional resistance level at $67.37 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 68.78
- First resistance: 68.60
- Pivot level: 68.35
- First support: 68.17
- Second support: 67.92
