USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $68.63 per barrel. According to technical analysis, the current trend indicates a weak downward trend with prices trading above 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 $69.08, and we will target $69.83 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $67.74 per barrel.
USOIL Technical Analysis: On the other hand,
if the selling zone at $67.74 per barrel is broken, the additional resistance level at $67.28 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.13
- First resistance: 68.95
- Pivot level: 68.83
- First support: 68.65
- Second support: 68.53
