USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.52 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 negative trend
Accordingly, you can sell while waiting for the price to drop to $70.62, and we will target $69.48 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $72.67 per barrel.
USOIL Technical Analysis: On the other hand,
if the buying zone at $72.67 per barrel is broken, the additional resistance level at $73.52 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.94
- First resistance: 71.76
- Pivot level: 71.66
- First support: 71.48
- Second support: 71.38