USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.93 per barrel. According to the 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, which enhances the positive possibilities for oil
Accordingly, you can buy while waiting for the price to rise to 70.73, and we will target $72.11 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.53 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at $68.53 per barrel, the additional resistance level at $67.63 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 70.80
- First Resistance: 70.48
- Pivot Level: 70.10
- First Support: 69.78
- Second Support: 69.40
